Nutrien Ltd. (NYSE:NTR) Q1 2024 Earnings Call Transcript

And there does appear to have been a step change in consumption and demand that’s continued, and that underscores the importance of potash and crop nutrients for the agricultural market there. And with those new higher levels of consumption and lower domestic production, the doubling of the strategic reserve target of 3 million tonnes, we do think that higher absolute inventories will become more normal in China to meet the country’s needs. Probably can’t speculate on the timing of the contract at this point, but we’ve seen good demand out of China without a contract, and we continue to believe that our global demand estimate is going to hold for the year.

Operator: There are no further questions at this time. I would like to hand the call back to Jeff Holzman for some closing remarks.

Jeff Holzman: All right. Thank you for joining us today, and we look forward to seeing you on June 12 for our Investor Day. Have a great day.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation, and you may now disconnect.