Commodities Buzz: Global Fertilizer Market Tightning On Soaring Gas Prices

6 Sep 2022 , 01:22 PM

Soaring global Natural Gas prices and a generally tense outlook for the energy markets amid ongoing Russia-Ukraine war is likely to keep input costs elevated for global Fertilizer markets. Global Fertilizer giant Yara noted in mid-august that as a result of record high gas prices in Europe, the company is implementing further curtailments which will take its total European ammonia capacity utilization to around 35%. With this, Yara will have curtailed an annual capacity equivalent of 3.1 million tonnes ammonia and 4.0 million tonnes finished products (1.8 million tonnes urea, 1.9 million tonnes nitrates and 0.3 million tonnes NPK) across its production system in Europe. Powered by Commodity Insights