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Thailand to revive potash mining project to cut fertilizer prices

Government to lead investment in hopes of raising domestic supplies

Potash for sale in Kolkata: The price of this key ingredient for fertilizer has shot up globally since the start of the Ukraine war.   © Reuters

BANGKOK -- Facing disruptions to the global fertilizer supply chain due to the Ukraine war, Thailand, a key producer of food and agricultural products in Southeast Asia, has decided to restart a potash mining project that has been dormant for decades. The $1.8 billion project aims to ease shortages of chemical fertilizer and lower prices at home.

"The cabinet has approved the potash mining project and assigned the Ministry of Finance to pay for new ordinary shares in order to hold a 20% stake in the project," Ratchada Thanadirek, the government's deputy chief spokeswoman, told reporters earlier this month.

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