Highfield Resources Ltd (ASX:HFR)'s (Highfield Resources Ltd (ASX:HFR)) (FRA:23H) Ignacio Salazar says Russia and Ukraine conflict is having a 'very significant impact' on the potash industry.
Belorussia and Russia are the second and third largest potash producers in the world (after Canada) accounting for over 30% of global production.
He explains that the other issue Belarus has is with exports, it is a landlocked country and exports around 80% of its production through Lithuania. Belorussia recently declared force majeure after the Lithuanian Rail company terminated its agreement to rail potash from Belorussia to the port it uses to export potash.