The company said it planned eight-week inventory shutdowns at its Allan, Lanigan and Vanscoy potash mines in the fourth quarter, adding it would reduce potash production by about 700,000 tonnes.

"Despite the current short-term market conditions, we remain positive on potash demand for 2020, as well as the medium to long-term potash fundamentals," Nutrien said in a statement.

Nutrien lowered its 2019 potash sales volume forecast in July, hurt by the China-U.S. trade war and lower demand from India.

(Reporting by Sathvik N in Bengaluru; editing by Darren Schuettler)