Europe’s fertilizer crisis tightened after Yara International ASA cut production in the face of rising gas prices, putting further pressure on food supplies as the cost of living crisis intensified.

Norwegian producers said they would further cut ammonia production capacity by about a third, in addition to a spate of fertilizer curbs and closures in Europe announced this week. We estimate that we are currently losing about half of our ammonia production capacity and 33% of our nitrogen fertilizer business.

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