Free Republic

Fertilizer Giant Yara Slashes European Output As Energy Crisis Worsens.. Europe’s fertilizer supply crunch continues to tighten after Yara International ASA announced Thursday that third-quarter ammonia output was slashed due to skyrocketing natural gas prices, putting more upward pressure on food inflation as the cost-of-living crisis worsens. The Norwegian producer said ammonia output in the quarter dropped to 57% of capacity in Europe, plunging from 81% in the previous quarter. It warned output could collapse to just 35% if NatGas prices stay elevated through the cold season, according to Bloomberg. Russia’s squeeze on NatGas, Western sanctions on Moscow inhibiting energy...

The world is facing the prospect of a dramatic shortfall in food production as rising energy prices cascade through global agriculture, the CEO of Norwegian fertilizer giant Yara International says. "I want to say this loud and clear right now, that we risk a very low crop in the next harvest," said Svein Tore Holsether, the CEO and president of the Oslo-based company. "I’m afraid we’re going to have a food crisis." Speaking to Fortune on the sidelines of the COP26 climate conference in Glasgow, Holsether said that the sharp rise in energy prices this summer and autumn had already...