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# Yara quarterly revenue fell 30%

Publication Date: 2023-05-16T15:00:48-04:00
Last Updated: 2023-05-16T05:46:32-04:00

Author: Kirill Shakin (https://www.fertilizerdaily.com/author/shakinkirill/)

Categories: [Corporate](https://www.fertilizerdaily.com/corporate/)

![Yara quarterly revenue fell 30%](https://www.fertilizerdaily.com/wp-content/uploads/2023/05/iStock-1441248894.jpg)

The company's net profit decreased by 9 times.

The Norwegian mineral fertilizer producer Yara International (hereinafter Yara) reported that revenue for 1Q2023 was down 30% to $4.2 billion. Quarterly net income was $104 million. A year earlier, this figure was $944 million.

Company representatives believe that such a poor result was caused by falling prices for fertilizers and a reduction in production. In the first quarter of 2023, ammonia production decreased by 20% and industrial products and fertilizers – by 17%.

Yara CEO Sven Holster remains optimistic. He noted that in the second quarter, there is a reduction in the supply of nitrogen fertilizers, which occurs due to an increase in demand in the European market.

Tags: [ammonia](https://www.fertilizerdaily.com/tag/ammonia/), [mineral fertilizers](https://www.fertilizerdaily.com/tag/mineral-fertilizers/), [Yara International](https://www.fertilizerdaily.com/tag/yara-international/)

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