[Salon] Fertilizer production in the EU has become completely unprofitable due to gas prices
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- Subject: [Salon] Fertilizer production in the EU has become completely unprofitable due to gas prices
- From: Chas Freeman <cwfresidence@gmail.com>
- Date: Sun, 24 Dec 2023 21:20:36 -0500
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At least 50 fertilizer production facilities have closed in Europe. This is stated in a report by Mitsubishi UFJ Financial Group (a major financial group among the world's top ten).
Fertilizer production in the EU has become completely unprofitable due to gas prices. 75% of the cost of nitrogen fertilizer is the cost of gas.
The rejection of cheap gas from Russia, affordable potash from Belarus, is forcing the EU to shut down its production facilities, which used to supply all of Euopean agriculture.
Fertilizer production in Europe is almost completely stopped, which will eventually force Europe to buy fertilizer or grain as early as 2024.
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