Nutrien Ltd.
Q1 2022 Earnings Call
May 03, 2022, 10:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to Nutrien's 2022 first quarter earnings call. [Operator instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Jeff Holzman, vice president of investor relations. Thank you.
Please go ahead.
Jeff Holzman -- Vice President, Investor Relations
Thank you, operator. Good morning, and welcome to Nutrien's first quarter 2022 conference call. As we conduct this call, various statements that we make about future expectations, plans and prospects contain forward-looking information. Certain material assumptions were applied in making these conclusions and forecasts.
Therefore, actual results could differ materially from those contained in our forward-looking information. Additional information about these factors and assumptions are contained in our current quarterly report to shareholders, as well as our most recent annual report, MD&A and annual information form filed with Canadian and U.S. Securities Commissions. I will now turn the call over to Ken Seitz, interim president and CEO, and Pedro Farah, our CFO, for opening comments before we take your questions.
Ken Seitz -- Interim President and Chief Executive Officer
Thanks, Jeff. And good morning, and welcome to Nutrien's first quarter earnings call. Before we get into the discussion of our results and outlook, I would like to express our thoughts and sympathies to all those that have been impacted by the conflict in Ukraine. We see the significant toll that has taken on the people in Ukraine, and it hits close to home for many of our employees, customers and other stakeholders that have family and friends in the region.
The conflict has also compounded supply challenges that have contributed to higher commodity prices and escalated concerns for global food security. Russia and Ukraine account for over 20% of the global exports for many agriculture and fertilizer commodities, and there's no simple or fast solution to overcome this level of supply disruption. As the world's largest fertilizer producer and retailer crop input, Nutrien has taken several actions to help our customers secure the products they need. In Potash, we are expanding production capability to approximately 15 million tonnes in 2022, an increase of 1 million tonnes compared to our initial expectations.