Any mineral or chemical containing the alkali element of potassium, often represented by its chemical element symbol "K”, is considered to be potash. Potassium is the seventh most copious element in the earth's crust. A number of potash ore deposits are often referred to as basins. In these instances, the deposits are a result of the evaporation of a sea or ocean millions of years ago. Over time, these basins have been filled with thousands, and thousands of feet of sediment.
Ethiopia is gaining more and more recognition as a site for strong potash production, thereby also gaining more and more investment inquiries. While many investors are hesitant, Ethiopia's heavily potash concentrated ore deposits are being considered very reassuring. Its most recognizable potash site encompasses the entire Afar Region and even flows into Eritrea and Djibouti. This site is referred to using three common names – the Afar Triangle, Afar Depression, and the Danakil Depression. Within this depression are millions of potash ores. For instance, in one area alone – Tigray's Dallol – approximately 150 million tons potash is annually produced. Adding to Ethiopia's attractive investment qualities are its shallow potash reserves. Ethiopia has also been gaining potash interest as a result for its unusually accessible potash ores, in comparison to other countries and their potash sites.
There are one hundred fifty countries that use potash products, specifically potash fertilizers for crop farming. Out of these one hundred fifty countries, only twelve produce potash. China, the U.S., Brazil, and India make up the leading potash consuming countries. Potash may be manufactured for a variety of applications. These include:
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Pharmaceutical drugs
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Synthetic rubber
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De-icing agents
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Water softeners
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Explosives
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Soaps
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Glass
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Ceramics
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Chemical dyes
However, these products account for only a very minor percentage of potash uses. The main use of potash is in fertilizers. In fact, approximately 95 percent of all potash sales are for agricultural purposes.
Potash is one of three nutrients crucial to plant life. The other two include nitrogen (N), and phosphorus (P). These three elements perform specific tasks that improve plant production and quality. For instance, nitrogen encourages foliage production, phosphorus supports energy absorption by the roots, and lastly, potash is key to the overall health and growth of plants.
Another reason why potash is ideal as a fertilizer, is the list of benefits it produces for farmers. Some benefits of potash in relation to agriculture are:
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Aid photosynthesis
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Increase root development
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Promote turgor, or cell wall strength
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Decrease plant stress
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Improve resistance to diseases and pests like weeds and insects
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Prevent wilting
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Stimulate water retention
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Defend plants against extreme climate temperatures
Over the past few years, the potash and agriculture industry have been gaining attention in the news. The continued increase in trends like food, economic growth, and biofuel directly influence the demand for potash fertilizers, and thereby potash mining.
Having studied the market, The Food and Agriculture Organization of the United Nations (FAO) predicts that oil crops, mainly oil palm, and soybean, will more than double by year 2050 as a means to biofuel growth.
The United Nations (U.N.) also predicts that by 2050, world population will rise to 9.2 billion, a 40 percent increase. This translates to increased demands for food and crops, animal feed, and fiber. At the same time, arable land around the world is declining at a rate of -1 percent, meaning the need for potash will continue to jump. Depending on the rate of supply versus demand, potash prices could skyrocket, as mining companies try to keep up with the demand of farmers and as farmers try to keep up with the need for agricultural products. Only time will tell, but it is certain that the benefits of potash are great, and vital to the future of the agriculture industry and all its consumers.