Fears global energy crisis could lead to famine in vulnerable countries
The global energy crisis could escalate into a world food crisis leading to famine in vulnerable countries unless urgent action is taken, one of the world’s biggest producers of fertiliser has warned.
Svein Tore Holsether, the chief executive of Yara, which produces 8.6m tonnes of the key fertiliser ingredient ammonia annually, said high gas costs meant it was curbing production in Europe by 40%.
The Norwegian company, which has production facilities in more than 50 countries including the UK, has been able to maintain supplies of its soil improvement products in Europe by importing ammonia from its facilities elsewhere in the world, where gas prices are cheaper.
However, Holsether warned there was no guarantee that process could continue. “It
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