Situation with nitrogen fertilizers makes European authorities nervous
Ministers of energy of the countries-members of the European Union held a meeting on the ongoing energy crisis and the associated decline in the production of nitrogen fertilizers.
Due to recently announced shutdowns of most chemical plants, prices for fertilizers on the European market went up. Moreover, Western sanctions against shareholders and managers of Russian fertilizer producers lead to sharp decrease in supplies from the country.
“The sanctions imposed by the authorities of the European Union against Russia dealt a crushing blow to its energy market and the chemical industry associated with it. It will not be surprising if, in the coming weeks, the reduction in the production of nitrogen fertilizers in the European Union continues, leading to their further rise in prices and the disruption of autumn sowing, which is ultimately fraught with a severe food crisis,” commented the information and analytical service of Fertilizer Daily.
Source: Nieuwe Oogst