Svein Tore Holsether, CEO of Yara International, one of the world’s leading fertilizer manufacturers, explained the impact of the Russia-Ukraine war that was not brought to the agenda. According to the statement made by Holsether, the world is heading towards a great food crisis.
The war between Russia and Ukraine, which has been going on for about a month, has negatively affected our lives in all areas. Yes, we did not enter the war, but Russia, especially in the energy sector Being one of the leading countries in the world directly affected fuel prices. With this war process, the continuation of the embargoes is expected in the near future. we will have a new problem it reveals. According to the statements made, the world is a global food to the crisis getting closer step by step.
One of the world’s leading fertilizer producers Yara InternationalSvein Tore Holsether, CEO of , made some assessments on the agenda. According to the CEO, who spoke to the Wall Street Journal, stopping the supply of fertilizer raw materials from Russia has interrupted production. As a natural consequence of this Both fertilizer prices will rise and food production around the world will decrease due to insufficient supply.. Svein Tore Holsether states that as a natural consequence of this, there will be a global food crisis.
Russia was the world’s largest supplier of fertilizer raw materials
According to the statements of industry sources, Russia before going to war It was one of the world’s largest fertilizer raw material producers. So much so that the country was the world’s number one exporter of essential fertilizer components such as urea, ammonia and potash. In fact, Russia is also a part of the global fertilizer export market. He alone was covering 20 percent.. But the unjust war against Ukraine caused all this to come to a standstill.
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This is not a guess or an allegation. When we look at Bloomberg’s North American Fertilizer Price Index, we see that fertilizer prices have increased by 10 percent in the past few days. We see it reach the highest level in history. This means that food costs will increase and we will face food inflation. The sad thing is, as the war continues, the embargoes against Russia will not be lifted, and this situation will also affect Turkey, which did not enter the war. will continue to directly affect…
Source :
https://www.businessinsider.com/ukraine-war-food-crisis-record-fertilizer-prices-inflation-2022-3