‘I’m afraid we’re going to have a food crisis’: The energy crunch has made fertilizer too expensive to produce, says Yara CEO
In Europe, the natural-gas benchmark hit an all-time high in September, with the price more than tripling from June to October alone. Yara is a major producer of ammonia, a key ingredient in synthetic fertilizer, which increases crop yields. The process of creating ammonia currently relies on hydropower or natural gas.
"To produce a ton of ammonia last summer was $110," said Holsether. "And now it's $1,000. So it's just incredible."
https://fortune.com/2021/11/04/energy-crisis-food-shortage-security-fertilizer-prices-yara-ceo-madagascar-cop26/