{"id":63397,"date":"2022-08-28T09:21:49","date_gmt":"2022-08-28T14:21:49","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63397"},"modified":"2022-08-28T09:21:49","modified_gmt":"2022-08-28T14:21:49","slug":"wave-of-european-ammonia-plant-closures-to-exacerbate-food-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63397","title":{"rendered":"Wave Of European Ammonia Plant Closures To Exacerbate Food Crisis"},"content":{"rendered":"
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Wave Of European Ammonia Plant Closures To Exacerbate Food Crisis<\/a><\/h3>\n<\/header>\n
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A wave of European ammonia-plant shutdowns due to soaring natural gas prices has resulted in a devastating fertilizer crunch, worsening by the week, with as much as 70% of production offline.<\/p>\n

“Ammonia prices, though volatile, rose 15% in 3Q and could climb higher as Europe’s record gas prices curtail output and send ammonia producers to the global market in search of replacement supplies to run upgrade facilities — with winter still around the corner,” Bloomberg Intelligence’s Alexis Maxwell wrote in a note.<\/p>\n

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As of Friday, 70% of capacity is offline across the continent, according to Fertilizers Europe, representing top regional producers.<\/p>\n

“The current crisis begs for a swift and decisive action from EU and national policymakers for both energy and fertilizer market,” Jacob Hansen, director general of Fertilizers Europe, said in a statement.<\/em><\/p><\/blockquote>\n

Producers from Norway’s Yara International ASA to CF Industries to Borealis AG recently reduced or halted production because European NatGas prices hit a record high of 343 euros per megawatt hour, making it uneconomical to operate.<\/p>\n

“We confirm we are reducing and stopping production of some fertilizer plants in the different EU sites and this for economic reasons,” a spokesperson for Borealis AG said.\u00a0<\/em><\/p><\/blockquote>\n

Europe’s benchmark NatGas price soared nearly a third this week as Russian supplies to Europe via Nord Stream 1 pipeline have been reduced to 20% over the summer and\u00a0face a temporary<\/a>\u00a0halt on Aug. 31 for three days.<\/p>\n

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The region’s fertilizer industry association warned the energy crisis is rippling across many industries and could heavily impact the food industry.<\/p>\n

“We are extremely concerned that as prices of natural gas keep increasing, more plants in Europe will be forced to close.<\/em><\/p><\/blockquote>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Wave Of European Ammonia Plant Closures To Exacerbate Food Crisis A wave of European ammonia-plant shutdowns due to soaring natural gas prices has resulted in a devastating fertilizer crunch, worsening by the week, with as much as 70% of production offline. “Ammonia prices, though volatile, rose 15% in 3Q and could climb higher as Europe’s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[31912,281,4844,33125,1912,548,554],"class_list":["post-63397","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-ammonia","tag-europe","tag-fertilizer","tag-fertiser","tag-food-production","tag-nat-gas","tag-natural-gas"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63397"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63397\/revisions"}],"predecessor-version":[{"id":63398,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63397\/revisions\/63398"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}