(Reuters) – German potash and salt miner K+S expects the potash market to stay strong as supply is limited and the product in demand, including from the United States that has excluded it from tariffs, the company said on Tuesday.
Potassium chloride prices, it said, have rallied by around 25% from late last year to just under $360 per metric ton by the beginning of May.
“Our agricultural products, potassium chloride and potassium sulphate, are explicitly excluded from the tariffs,” Chief Financial Officer Christian Meyer said in comments provided by the company.
“The U.S. has only very insignificant potash production of its own and is dependent on imports. We do not expect any change in this tariff policy for our products in the future,” he added.
The company based in Hesse, in central Germany, increased its 2025 forecast in April, citing positive developments in the potash market. It expects full-year earnings before interest, tax, depreciation and amortisation in a range of 560-640 million euros ($622.55-711.49 million) from a previously expected range of 500-620 million euros.
K+S announced first-quarter revenue of 965 million euros, surpassing analysts’ estimates of 958 million euros according to a poll by Vara Research.
U.S. peer Mosaic and Norway’s Yara also beat market expectations in the first quarter of the year.
($1 = 0.8995 euros)
(Reporting by Tristan Veyet in Gdansk, editing by Barbara Lewis)
