News Formal

Business Maverick: Europe’s Widening Fertilizer Crisis Threatens Food Supplies

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 84%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Europe’s fertilizer crunch tightened after Yara International ASA cut output in the face of soaring gas prices, putting more pressure on food supplies as a cost-of-living crisis intensifies.

If gas prices remain high and fertilizers costs increase into the new planting season, demand from farmers could fall, according to Michael Magdovitz, a crop analyst at Rabobank in London.

Yara said it’s cutting its ammonia utilization to about 35%, with the latest reductions bringing total curtailments to an equivalent of 3.1 million tons of ammonia and 4 million tons of finished products across its production system in Europe. Gas is the top input for most nitrogen fertilizer, including ammonia.

Oslo-based Yara said that, where possible, it will use its global sourcing and production system to optimize operations and meet customer demand, which includes using imported ammonia when feasible. It’s currently much cheaper to import ammonia into Europe than to make it there, according to CRU.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Business Maverick: UK risks more food havoc on CO2 cuts from fertiliser closureFertiliser producer CF Industries Holdings will halt ammonia production at its remaining UK plant in response to soaring natural gas prices, a move that could reduce carbon dioxide supply crucial to the food industry.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Business Activity Slumps Globally, Feeding Recession ConcernsEconomic activity weakened from the US to Europe and Asia, reinforcing concerns that soaring prices and the war in Ukraine will tip the world into a recession.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »