Higher gas prices deepen Europe’s fertiliser crunch, threaten food crisis
Europe’s fertilizer crunch is deepening with more than two-thirds of production capacity halted by soaring gas costs, threatening farmers and consumers far beyond the region’s borders.
Russia’s squeeze on gas shipments in the wake of Moscow’s invasion of Ukraine is hurting industries across Europe. But fertilizer companies are being especially affected because gas is both a key feedstock and a source of power for the sector.
Wholesale fertilizer prices, which fell back after climbing to multiyear highs following Russia’s assault, are rising again as European Union producers curb capacity. Ammonia prices in Western Europe have surged over the last two years, according to data by Bloomberg’s crop nutrient analysis company Green Markets.
