Europe's Fertilizer Industry Faces Food Security Threat with Rising Gas Prices

AGF Nitrogen, Europe's second-largest producer of fertilizers and nitrogen-based products, is considering reducing its ammonia production due to rising natural gas prices. The company's CEO, Petr Cingr, warns that this could lead to a serious threat to European food security.

The cost of natural gas has been increasing, and the price of emissions allowances remains high, making it unaffordable for European farmers to purchase fertilizers. As a result, demand is already decreasing for the upcoming season, which could impact crop yields.

AGF Nitrogen's ammonia production is fundamentally linked to the cost of natural gas, energy, and emissions allowances. The company views this situation as a serious threat to European food security and is urging policymakers to address the issue.