The German K+S Group has announced its intention to reduce the production of potassium chloride by 300,000. tons by the end of this year. This is expected to reduce its EBITDA by 80 million Euro.
“In the current weak market conditions, which are complicated by China’s ban on imports of standard potassium chloride, adjusting production is a difficult but correct decision,” said Alexa Hergenr’ther, Head of the European division of the K’S Group.
Nevertheless, she said, the K’S Group continues to work to improve the quality of potassium chloride at the Bethune mine (Canada) and improve the efficiency of operations in Germany.
Earlier, Uralkali reported a planned reduction in potassium chloride production by 350-500 thousand tons in the second half of 2019.