Sky-high gas prices in Europe could threaten food security in the world, Yara warns. European nitrogen production is important for fertilizer production for agriculture.
Yara President Svein Tore Holsether fears that farmers will be forced to cut fertilizer use due to higher prices. Thus, food production may decline, Holsether wrote in the company’s report for the third quarter.
He warns that crop yields could fall due to a lack of fertilizer.
“Then, you’d quickly go from an energy crisis to a food crisis,” he told the newspaper E24.
He is particularly concerned about the poorest regions of the world. In several parts of the world, people spend 60% of their disposable income on food, Holsether said.
“I fear that if this continues, we may see famine in parts of the world.”
Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews
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