A shortage of nitrogen fertilizer due to soaring natural gas prices is threatening to reduce global crop yields next year, CF Industries, a major producer of the crop nutrient, said on Thursday.
European gas prices have jumped amid high demand, as economies recover from the pandemic and with below-average gas storage levels at the start of the winter heating season. Natural gas is a key input in the production of nitrogen-based fertilizers and higher costs have caused some producers to cut production.
