Yara fertilizer output collapsed
The Norwegian mineral fertilizer producer Yara International (hereinafter Yara) has reported the results of the past year.
According to the company’s press-release, ammonia output decreased by 10.3% to 6.510 million tons, carbamide – by 16.7% to 3.949 million tons, ammonium nitrate – by 10% to 5.625 million tons, and NPK fertilizers – by 6.8% to 6.003 million tons.
In general, the production of Yara mineral fertilizers fell by 10.5% to 20.473 million tons and their sales by 20.7% to 22.685 million tons.
“The reasons for such poor results for Yara in 2022 are the sharp rise in the price of natural gas in Europe due to sanctions against Russia, which led to a decrease in a load of its chemical plants, and the break of relations with Russia, from which it received potassium chloride and where it supplied mineral fertilizers,” commented the information and analytical service of Fertilizer Daily.