The growth of the bio-fuel industry and need to increase the yield of food crops are resulting in high demand for potash fertilizer. Moreover, a decline in the prices of potash is also driving the market growth.
LONDON: The procurement research report on the potash market is an indispensable part of SpendEdge’s chemicals category portfolio and offers an exhaustive analysis of the key factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. Furthermore, it also offers profound insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
The global demand for food crops is increasing due to increase in global population and rise in disposable income of consumers. Also, rapid urbanization has led to a shortage of arable land used for growing food crops. This has increased the demand for potash fertilizer that can increase the yield of food crops from the limited acreage of farming lands available.
“Procurement managers must procure potash from suppliers that have extensively automated their manufacturing plants,” says Anil Seth, a chemicals industry procurement research specialist at SpendEdge.
A potash mining project requires five to ten years to reach its full potential. This can lead to delays in procurement for purchasing managers, as suppliers need to explore new mining opportunities due to depletion of reserves constantly. However, emerging technologies such as selective dissolution are reducing these lead times, but finding suppliers that are utilizing such technologies is difficult, as only a few suppliers are currently using them.
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This procurement research report on the potash market offers insights on:
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