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.
The Norwegian producer said it’s further cutting its ammonia capacity to about a third, adding to a flurry of European fertilizer curbs and shutdowns announced this week. Industry researcher CRU Group estimates that Europe has now lost about half its ammonia capacity and 33% of its nitrogen fertilizer operations.
