Fertilizer giant Yara International ASA boosted shipments in the first quarter as the Iran war effectively halted transit through the Strait of Hormuz, hurting global trade of crop nutrients and pushing up prices.
Yara International ASA's industrial facility in Porsgrunn, Norway.
Fertilizer giant Yara International ASA reduced production in India, a significant importer of gas from the Middle East, as the war curtails supply of the vital feedstock.
Yara International ASA warned that it could abandon a planned low-emission ammonia project in the US if the European Union was to exclude fertilizers from its flagship carbon border levy.
Suspending the carbon levy on fertilizers would make it less appealing to invest in low-carbon output, as buyers in the region could import cheaper products. Photographer: Philippe Lopez/AFP/Getty Images
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