Potassium is the third major plant and crop nutrient after nitrogen and phosphorus. It has been used since antiquity as a soil fertilizer (about 90% of current use). Elemental potassium does not occur in nature because it reacts violently with water. As part of various compounds, potassium makes up about 2.6% of the Earths crust by mass and is the seventh most abundant element, similar in abundance to sodium at approximately 1.8% of the crust. Potash is important for agriculture because it improves water retention, yield, nutrient value, taste, color, texture and disease resistance of food crops. It has wide application to fruit and vegetables, rice, wheat and other grains, sugar, corn, soybeans, palm oil and cotton, all of which benefit from the nutrients quality-enhancing properties.
Demand for food and animal feed has been on the rise since 2000. The United States Department of Agriculture's Economic Research Service (ERS) attributes the trend to average annual population increases of 75 million people around the world. Geographically, economic growth in Asia and Latin America greatly contributed to the increased use of potash-based fertilizer. Rising incomes in developing countries also were a factor in the growing potash and fertilizer use. With more money in the household budget, consumers added more meat and dairy products to their diets. This shift in eating patterns required more acres to be planted, more fertilizer to be applied and more animals to be fed—all requiring more potash.
After years of trending upward, fertilizer use slowed in 2008. The worldwide economic downturn is the primary reason for the declining fertilizer use, dropping prices, and mounting inventories.
The world's largest consumers of potash are China, the United States, Brazil, and India.  Brazil imports 90% of the potash it needs. Potash consumption for fertilizers is expected to increase to about 37.8 million tonnes by 2022.
Potash imports and exports are often reported in KO equivalent, although fertilizer never contains potassium oxide, per se, because potassium oxide is caustic and hygroscopic.