That sent shares in Nutrien, the world’s largest potash producer based in Saskatchewan, tumbling down.
Canada has long been the United States’ main source of potash.
Belarus is a close ally of Russia and is much further from the U.S. farmers, especially in the main field crops area immediately south of Saskatchewan.
Canada has granted the province’s potash miners the right to work together on pricing exports.
It’s not yet clear whether BHP, which is in the process of opening the largest potash mine in Saskatchewan, is prepared to join the export cartel. Its head office is in Australia.
Trump said the deal he is negotiating will be at a lower price.
Nutrien sells about 80 per cent of its potash exports to the United States which last year bought $4.2 billion worth.
