Since 1950, the world’s population has more than doubled from 2.5 billion people to 6.6 billion. No less than 75 million people a year are added to this burgeoning number, which is expected to exceed 9 billion by 2050, according to the United Nations.
This will lead to an increasing need for staple crops for human and livestock consumption that have greater fertilizer demands. This is also the case for biofuels.
Much of that growth has occurred in Asia and Africa, where densely populated countries have significant demands for enhanced crop yields.
The widespread adoption of potash-rich fertilizers is the obvious solution to this fast-growing problem. This scenario, alone, promises to propel potash prices higher.
