Ukraine war sparks rush for potash as global food fears grow

For the best part of a decade the potash market struggled with overcapacity and low prices. But as sanctions throttle supplies of the fertiliser from Russia and Belarus, which account for almost 40 per cent of global supply, buyers are scrambling for cargoes and warnings are growing of a global food crisis.

In Brazil, an agricultural powerhouse, prices have surged 185 per cent over the past year hitting records above $1,100 a tonne,…