Europe's Fertilizer Output Under Threat from Soaring Gas Prices

AGF Nitrogen, Europe's second-largest fertilizer and nitrogen-based products producer, is considering reducing its ammonia output due to rising natural gas prices. The increasing cost of energy and emissions allowances has made fertilizers unaffordable for European farmers, leading them to reduce demand for the upcoming season.

CEO Petr Cingr warns that without fertilizers, securing sufficient crop yields becomes impossible, posing a serious threat to European food security.

The situation is exacerbated by persistently high emissions allowance prices, which are several times higher than in other parts of the world.