Gas Crisis May Force Fertilizer Giant Yara to Further Cut Output
- European producer highlights toll of capacity reductions
- High gas prices have forced fertilizer makers to curb plants
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European fertilizer giant Yara International ASA said the energy crisis is forcing it to curb output and warned that more cuts may come.
The huge ammonia distributor is among producers around the world that have cut output due to high prices of natural gas, a crucial feedstock used to make crop nutrients. Yara said Tuesday that it has curtailed several sites, cutting capacity by 1.3 million tons for ammonia and 1.7 million tons for finished fertilizer.