Europe should cut dependency on Russia for food and fertilisers, Yara says
Europe should urgently act to cut the continent’s dependency on Russian food and fertilisers and boost its own security of supply, Norwegian fertiliser-maker Yara International YAR.OL said on Thursday.
The Oslo-based company, one of the world’s biggest producers of plant nutrients, has curtailed production this year due to soaring gas prices, a key input in nitrogen fertiliser production, raising doubts over the industry’s future in Europe.
“Yara calls on the European Union and national governments to act urgently and decisively to ensure Europe reduces, and not strengthens, its dependency on Russia for food and fertilisers,” the company said in a statement.
“A strong European fertiliser industry is crucial not only for ensuring food security in Europe and globally but also for ensuring that Europe can continue to take the lead in the green transition.”
While Europe can import fertiliser or key input factors like ammonia from elsewhere, the cutbacks by Yara and others effectively act to reduce overall global output, the company said.
“Curtailed production in Europe reduces worldwide availability of fertilisers and has direct, negative consequences for the global food system and global food security,” Yara added.
Source: Reuters (Reporting by Terje Solsvik, editing by Gwladys Fouche)