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In 2023, Canada had the world's largest potash reserves, with a share of nearly 31 percent of the total reserves. Belarus, the world's second-leading country in terms of potash reserves accounted for approximately 21 percent of global reserves as of that year. The global reserves of potash in potassium oxide equivalent exceeded 3.5 billion metric tons worldwide in 2023. 

Canada: the global potash leader

In addition to holding the largest potash reserves, Canada is also the leading potash producing country worldwide. In fact, Canada consistently accounts for around one-third of global potash production every year. Canadian potash production has seen an overall increase over the past decade, and amounted to 24.6 million metric tons in 2022.

The global potash market

As potash is primarily used in the production of fertilizer for agriculture, it sees widespread usage throughout the world. Accordingly, potash is a globally important mineral commodity. The market size of potash fertilizers is expected to grow in coming years, rising from 26.1 billion U.S. dollars in 2021 to a projected 36.7 billion U.S. dollars by 2028. Nevertheless, the potash market is not immune to price disruptions. Potash prices rose steeply following the Russian invasion of Ukraine in early 2022.