Yara predicts severe hunger

Svein Tore Holsether, CEO of Yara International (hereinafter Yara), stated that high fertilizer prices on the global market could have long-range consequences for the planet’s agriculture, leading to hunger.

“We are facing several adverse factors: the supply of natural gas, mineral fertilizers and food is decreasing, while their prices have been rising even before the escalation of the global geopolitical crisis this year. Moreover, climate change is causing more and more extreme weather events. Global food security is under threat, with 276 million people suffering from severe food scarcity, which is more than double the pre-pandemic level,” said Svein Tore Holsether.

According to his statement, the shortage of mineral fertilizers in the global market is currently about 15%. The effect of Western sanctions against Russia and Belarus and the limitation of fertilizer exports in Russia lead to a small volume of their supplies and a drop in crops in many countries.

“On the one hand, we should reduce our dependence on Russian fertilizers, on the other hand, the lack of nutrients will have dramatic consequences. About half of the world’s population cannot feed without using mineral fertilizers. If farmers do not apply mineral fertilizers now, the yield will collapse in a few months,” said Svein Holsether.

Yara is trying to help the countries of East Africa by donating 400 thousand tons of mineral fertilizers to the region’s farmers. The company also provided them with training on the proper use of fertilizers to help agricultural producers triple their corn harvests.

In 2021, Yara sold over 28 million tons of mineral fertilizers on the global market.

Source: Der Spiegel