"Everyone will understand that this is an expensive product and you need to pay the appropriate amount for it," Lukashenko reportedly said, suggesting Rybakov should discuss the idea further with Russian companies.

Belarus and Russia collectively supply about 40% of the world's potash, a critical ingredient in agricultural fertilizers. Although Belaruskali faces sanctions from the EU and U.S., Russia's main potash producer, Uralkali, is not under similar restrictions, giving it more flexibility in the market.

The proposed cut comes at a time when cheap potash supplies are available from other markets and the potash industry is facing higher costs due to sanctions and market rerouting. If implemented, this coordinated reduction could support higher potash prices, benefiting producers globally amid shifting trade dynamics.

Price Action: Mosaic shares closed Monday up 5.47% at $28.36 and Nutrien shares closed the day up 5% at $50.78, according to Benzinga Pro.

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