The head of one of the world’s largest fertilizer companies said that the war in Ukraine will affect world food supplies and prices, according to the BBC.
Yara International director Swain Torre Holseter predicts that fertilizer prices, which rose before the Russian invasion due to the sharp rise in gas prices, are likely to continue to rise.
Yara International, which operates in more than 60 countries, purchases a significant amount of basic raw materials in Russia. “We were already in a difficult situation before the war,” Holseter told British media. “Currently, this is an additional break in the supply chain, and we are approaching the most important part of this season for the northern hemisphere, where we have to supply a lot of fertilizers. I expect that the whole process will be strongly influenced by the war and sanctions against Russia, “he added.
Russia produces a huge amount of nutrients such as potassium carbonate and phosphate, the main ingredients in fertilizers that allow plants and crops to grow. “The question is no longer whether we are moving towards a global food crisis. It is important how big the crisis will be, “Holseter added.