Fertilizers: Yara ceases purchases from producers connected to sanctions in Russia
Mar, 11, 2022 Posted by Gabriel MalheirosWeek 202210
On the 11th, the Norwegian fertilizer manufacturer Yara International announced a halt to all purchases from suppliers linked to individuals and/or entities sanctioned by the European Union (EU) in response to Russia’s invasion of Ukraine.
The company stated that it intends to use its global production system to safeguard the continuous operation of the international food supply chain. Still, it also expressed concerns about global security and called for government action to reduce international dependence on Russian supplies.
Earlier this week, Yara had temporarily reduced production at its plants in Ferrara, Italy, and Le Havre, France, due to record natural gas prices in Europe. Precisely because of these interruptions, the company believes that its European ammonia and urea production is running at 45% of capacity.
Source: Money Times
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