The Russian invasion of Ukraine is beginning to threaten the global food supply, said Norwegian fertilizer producer, Yara International in a March 1 press statement. The Norwegian company recommended that the international community needs to reduce its dependence on Russian raw materials for agriculture fertilizer. Fertilizer prices were already rising sharply at the end of 2021, following natural gas costs. Russia produces 25 percent of the European supply of nitrogen, potash, and phosphate which are key ingredients for producing nitrogen-based fertilizers; along with over 40 percent of its natural gas. Yara, which is one of the world’s biggest fertilizer manufacturers, is a supplier to the Ukrainian agricultural sector and a major buyer of materials used for fertilizer, such as phosphate and potash, from Russia. Russia also provides the natural gas used for nitrogen required to make fertilizer. Ukraine and Russia are both major exporters of basic foodstuffs, accounting for about 29 …
Global Fertilizer Supply Is At Risk Due To Dependence on Russia, Says Norwegian Fertilizer Producer
March 1, 2022
admin
Business & Economycommoditieseconomic policieseconomyEuropefood suppliesMarketsRussia ukraine conflictRussia-Ukraine WarWorld
0 Comment