Yara aims at large-scale transshipment in Latvia
Yara Latvija (a subsidiary of the Norwegian producer of mineral fertilizers Yara International, hereinafter Yara) has partnered with Magnat Group, which manages the Riga Nordic terminal in the Freeport of Riga (Latvia). It will handle and package up to 100 thousand tons of Yara’s mineral fertilizers per year.
So far, packaging of the company’s mineral fertilizers was carried out in small volumes at the Duna terminal located in the port of Liepaja.
“Over the past 5 years, Yara has significantly increased its market share and strengthened its position in Latvia. Cooperation with Riga Nordic is a thoughtful and important step for the further strategic development of the company,” said Lauri Heimala, Yara representative.
Yara is trying to replace Russian fertilizer producers on the market of the Baltic countries and Eastern Europe. However, it’s unlikely to succeed, reports the information and analytical service of Fertilizer Daily. Due to the high cost of natural gas, the capacities of Yara become unprofitable nowadays.