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		<title>U.S. fertilizer imports helping fund Russian war effort, CF Industries says</title>

		<link>
		https://www.country-guide.ca/daily/u-s-fertilizer-imports-helping-fund-russian-war-effort-cf-industries-says/		 </link>
		<pubDate>Fri, 03 May 2024 16:43:08 +0000</pubDate>
				<dc:creator><![CDATA[Richa Naidu, Rod Nickel]]></dc:creator>
						<category><![CDATA[News]]></category>
		<category><![CDATA[Reuters]]></category>
		<category><![CDATA[cf industries]]></category>
		<category><![CDATA[fertilizer]]></category>
		<category><![CDATA[Russia]]></category>

		<guid isPermaLink="false">https://www.country-guide.ca/daily/u-s-fertilizer-imports-helping-fund-russian-war-effort-cf-industries-says/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">2</span> <span class="rt-label rt-postfix">minutes</span></span> Reuters – U.S. agriculture companies have been brisk importers of Russian fertilizer since the 2022 Ukraine invasion, a practice that is unwittingly helping fund Russia&#8217;s war against Ukraine, U.S. producer CF Industries CF.N said on Thursday. The U.S. does not impose sanctions directly on Russian fertilizer, which is important to global food supplies and prices. [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/u-s-fertilizer-imports-helping-fund-russian-war-effort-cf-industries-says/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/u-s-fertilizer-imports-helping-fund-russian-war-effort-cf-industries-says/">U.S. fertilizer imports helping fund Russian war effort, CF Industries says</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
]]></description>
								<content:encoded><![CDATA[<p><em>Reuters</em> – U.S. agriculture companies have been brisk importers of Russian fertilizer since the 2022 <a href="https://www.manitobacooperator.ca/news-opinion/news/from-ukraine-on-the-home-front/" target="_blank" rel="noopener">Ukraine invasion</a>, a practice that is unwittingly helping fund Russia&#8217;s war against Ukraine, U.S. producer CF Industries CF.N said on Thursday.</p>
<p>The U.S. does not impose sanctions directly on Russian fertilizer, which is important to global food supplies and prices. On Wednesday, the U.S. Treasury Department issued hundreds of fresh sanctions on other Russian targets over the war.</p>
<p>&#8220;What&#8217;s kind of shocking is there&#8217;s been all of this focus on not funding the Russian war machine and not buying Russian gas,&#8221; CF&#8217;s CEO Tony Will said on a quarterly earnings call. &#8220;And yet, the U.S. is arms wide open to take urea and UAN (urea ammonium nitrate) coming out of Russia, which is effectively just natural gas that&#8217;s been converted (into fertilizer).</p>
<p>&#8220;So the U.S. is funding the very war effort over there that on the one hand it’s condemning.&#8221;</p>
<p>A White House spokesperson did not respond to a request for comment.</p>
<p>The biggest U.S. <a href="https://www.manitobacooperator.ca/news-opinion/news/buy-urea-sooner-than-later-says-trader/" target="_blank" rel="noopener">urea</a> importers from Russia since its invasion of Ukraine in February 2022 to March 2024 are ECO Fertilizers, Swiss-based EuroChem and U.S. grain-handling giant Archer-Daniels-Midland ADM.N, according to U.S. import data provided to Reuters by ImportYeti, a company that provides information about suppliers by tracking bills of lading.</p>
<p>ECO Fertilizers, the company Russian fertilizer producer Acron Group uses to import into the U.S., according to CF, imported about 575 million metric tons during the period.</p>
<p>The company&#8217;s address is listed online as Hollywood, Florida, but it could not be immediately reached at its email address.</p>
<p>EuroChem, founded by Russian businessman Andrey Melnichenko, imported at least 81 million tons of urea from Russia via its U.S. subsidiaries.</p>
<p>ADM imported at least about 16.8 million tons of urea from Russia between February 2022 and March 2024 via five subsidiaries. Some grain handlers, which buy crops from farmers, use those relationships to sell growers inputs such as fertilizer as well.</p>
<p>EuroChem and ADM did not immediately respond to requests for comment.</p>
<p>CF, based in Illinois, is one of the world&#8217;s biggest nitrogen fertilizer producers and competes against Russian imports. Nitrogen fertilizer is made from natural gas and the U.S. has imposed sanctions on a project owned by Russia&#8217;s largest producer of liquefied natural gas.</p>
<p>CF does not import Russian fertilizer, company spokesperson Chris Close said.</p>
<p>Will did not say whether CF is calling on the U.S. to sanction Russian fertilizer.</p>
<p>Wholesale producers typically sell fertilizer to separate retail companies that sell it directly to farmers, or through their own retail stores.</p>
<p><em>– Reporting by Rod Nickel in Winnipeg, Manitoba and Richa Naidu in London; additional reporting by Steve Holland</em></p>
<p>The post <a href="https://www.country-guide.ca/daily/u-s-fertilizer-imports-helping-fund-russian-war-effort-cf-industries-says/">U.S. fertilizer imports helping fund Russian war effort, CF Industries says</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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		<title>Nutrien misses profit estimates amid higher fertilizer prices</title>

		<link>
		https://www.country-guide.ca/daily/nutrien-misses-profit-estimates-amid-higher-fertilizer-prices/		 </link>
		<pubDate>Thu, 16 Feb 2023 02:00:29 +0000</pubDate>
				<dc:creator><![CDATA[Sourasis Bose]]></dc:creator>
						<category><![CDATA[Crops]]></category>
		<category><![CDATA[Reuters]]></category>
		<category><![CDATA[cf industries]]></category>
		<category><![CDATA[fertilizer]]></category>
		<category><![CDATA[net earnings]]></category>
		<category><![CDATA[nitrogen]]></category>
		<category><![CDATA[Nutrien]]></category>
		<category><![CDATA[Potash]]></category>
		<category><![CDATA[prices]]></category>

		<guid isPermaLink="false">https://www.country-guide.ca/daily/nutrien-misses-profit-estimates-amid-higher-fertilizer-prices/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">&#60; 1</span> <span class="rt-label rt-postfix">minute</span></span> Reuters &#8212; Canadian fertilizer maker Nutrien on Wednesday forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates, sending shares down 2.6 per cent in extended trading. While higher fertilizer prices dented demand in early second-half of last year, a fall in prices later in the year did not boost demand as farmers [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/nutrien-misses-profit-estimates-amid-higher-fertilizer-prices/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/nutrien-misses-profit-estimates-amid-higher-fertilizer-prices/">Nutrien misses profit estimates amid higher fertilizer prices</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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								<content:encoded><![CDATA[<p><em>Reuters &#8212;</em> Canadian fertilizer maker Nutrien on Wednesday forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates, sending shares down 2.6 per cent in extended trading.</p>
<p>While higher fertilizer prices dented demand in early second-half of last year, a fall in prices later in the year did not boost demand as farmers further awaited pricing trends to stabilize. Nutrien also said there was a &#8220;historic decline&#8221; in potash shipments in the second half of 2022.</p>
<p>&#8220;Growers are hesitant to step into the market with falling fertilizer prices,&#8221; Jason Newton, chief economist and head of market research at Nutrien, told Reuters.</p>
<p>Newton, however, expects the reduced fertilizer prices and strong crop prices to support demand as spring arrives.</p>
<p>The company forecast 2023 adjusted earnings in the range of $8.45 to $10.65 per share, compared with analysts&#8217; estimate of $11.62 per share.</p>
<p>Excluding items, it reported earnings of $2.02 per share for the three months ended Dec. 31, compared with analysts&#8217; average estimate of $2.62 per share, according to Refinitiv data.</p>
<p>The company also raised its dividend by 10.4 per cent to 53 cents per share and said its plans to reduce its share-count by five per cent.</p>
<p>Its peer CF Industries also reported lower sales, and said global nitrogen availability loosened in the fourth quarter with weak industrial demand in Europe being one of the reasons.</p>
<p>Yet, higher fertilizer prices helped the company post fourth-quarter net earnings of $860 million or $4.35 per share, compared with $705 million or $3.27 per share, a year ago.</p>
<p><em>&#8212; Reporting for Reuters by Sourasis Bose in Bangalore</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/nutrien-misses-profit-estimates-amid-higher-fertilizer-prices/">Nutrien misses profit estimates amid higher fertilizer prices</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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				<post-id xmlns="com-wordpress:feed-additions:1">124870</post-id>	</item>
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		<title>CF Industries profit soars as sanctions raise fertilizer prices</title>

		<link>
		https://www.country-guide.ca/daily/cf-industries-profit-soars-as-sanctions-raise-fertilizer-prices/		 </link>
		<pubDate>Thu, 05 May 2022 00:55:01 +0000</pubDate>
				<dc:creator><![CDATA[Reuters]]></dc:creator>
						<category><![CDATA[Crops]]></category>
		<category><![CDATA[Reuters]]></category>
		<category><![CDATA[cf industries]]></category>
		<category><![CDATA[crops]]></category>
		<category><![CDATA[fertilizer]]></category>
		<category><![CDATA[nitrogen]]></category>
		<category><![CDATA[Profit]]></category>
		<category><![CDATA[quarterly profit]]></category>

		<guid isPermaLink="false">https://www.country-guide.ca/daily/cf-industries-profit-soars-as-sanctions-raise-fertilizer-prices/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">&#60; 1</span> <span class="rt-label rt-postfix">minute</span></span> Chicago &#124; Reuters &#8212; CF Industries on Wednesday reported quarterly earnings climbed 485 per cent as the fertilizer maker ramped up U.S. shipments after Russia&#8217;s invasion of Ukraine catapulted prices for crop nutrients. Top fertilizer producers including CF, Nutrien and Mosaic Co. have benefited as sanctions on exporters Russia and ally Belarus limited global supplies [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/cf-industries-profit-soars-as-sanctions-raise-fertilizer-prices/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/cf-industries-profit-soars-as-sanctions-raise-fertilizer-prices/">CF Industries profit soars as sanctions raise fertilizer prices</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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								<content:encoded><![CDATA[<p><em>Chicago | Reuters &#8212;</em> CF Industries on Wednesday reported quarterly earnings climbed 485 per cent as the fertilizer maker ramped up U.S. shipments after Russia&#8217;s invasion of Ukraine catapulted prices for crop nutrients.</p>
<p>Top fertilizer producers including CF, Nutrien and Mosaic Co. <a href="https://www.agcanada.com/daily/nutrien-bolsters-profit-forecast-on-surging-fertilizer-prices">have benefited</a> as sanctions on exporters Russia and ally Belarus limited global supplies that were already tight.</p>
<p>Illinois-based CF, which operates the world&#8217;s largest nitrogen complex in Louisiana, said net earnings reached $883 million in the three months ended on March 31, compared with $151 million a year earlier (all figures US$). Net sales were $2.9 billion, up from $1 billion a year ago.</p>
<p>Nitrogen fertilizer is one of the most commonly used fertilizers to boost production of corn, canola and other crops.</p>
<p>Global inventories are &#8220;extremely tight&#8221; while demand is strong from farmers seeking to cash in on grain prices that have jumped as the Ukraine war is disrupting crop shipments from the Black Sea, CF said.</p>
<p>It will take at least two to three years to replenish global grains stocks after the invasion, CEO Tony Will said. Moscow calls its action in Ukraine a &#8220;special operation.&#8221;</p>
<p>The company said it shipped the highest quarterly volume of nitrogen by rail in North America in 10 years to meet demand and is chartering three times its typical volume of U.S.-flagged vessels to move liquid nitrogen to the U.S. coasts.</p>
<p>The average price for natural gas, used to make nitrogen fertilizer, was $6.48 per MMBtu in the quarter, compared with $3.22 in 2021, CF said.</p>
<p><em>&#8212; Reporting for Reuters by Tom Polansek in Chicago</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/cf-industries-profit-soars-as-sanctions-raise-fertilizer-prices/">CF Industries profit soars as sanctions raise fertilizer prices</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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				<post-id xmlns="com-wordpress:feed-additions:1">119585</post-id>	</item>
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		<title>CF Industries warns of shipment delays via Union Pacific</title>

		<link>
		https://www.country-guide.ca/daily/cf-industries-warns-of-shipment-delays-via-union-pacific/		 </link>
		<pubDate>Thu, 14 Apr 2022 23:19:54 +0000</pubDate>
				<dc:creator><![CDATA[Reuters]]></dc:creator>
						<category><![CDATA[Crops]]></category>
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		<category><![CDATA[cf industries]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[fertilizer]]></category>
		<category><![CDATA[nitrogen]]></category>
		<category><![CDATA[pandemic]]></category>
		<category><![CDATA[rail]]></category>
		<category><![CDATA[rail service]]></category>
		<category><![CDATA[Union Pacific]]></category>

		<guid isPermaLink="false">https://www.country-guide.ca/daily/cf-industries-warns-of-shipment-delays-via-union-pacific/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">&#60; 1</span> <span class="rt-label rt-postfix">minute</span></span> Reuters &#8212; Fertilizer firm CF Industries on Thursday warned of delays in shipment of its nitrogen fertilizers, a week after Union Pacific mandated certain shippers to reduce the volume of private cars on its rails. The announcement of delay also comes a month after CF said it is increasing fertilizer shipments to both U.S. coasts [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/cf-industries-warns-of-shipment-delays-via-union-pacific/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/cf-industries-warns-of-shipment-delays-via-union-pacific/">CF Industries warns of shipment delays via Union Pacific</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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								<content:encoded><![CDATA[<p><em>Reuters</em> &#8212; Fertilizer firm CF Industries on Thursday warned of delays in shipment of its nitrogen fertilizers, a week after Union Pacific mandated certain shippers to reduce the volume of private cars on its rails.</p>
<p>The announcement of delay also comes a month after CF <a href="https://www.agcanada.com/daily/cf-industries-boosts-u-s-fertilizer-shipments-as-russian-exports-cut">said it is increasing</a> fertilizer shipments to both U.S. coasts from the world&#8217;s largest nitrogen complex in Louisiana to help offset a decline in exports from Russia, a major exporter of potash, after it invaded Ukraine.</p>
<p>CF Industries ships to customers through Union Pacific rail lines primarily from its Donaldsonville complex in Louisiana and its Port Neal complex in Iowa. The company was asked by the railroad operator to reduce its shipments by nearly 20 per cent.</p>
<p>The fertilizer producer said it may not have available shipping capacity to take new rail orders involving Union Pacific rail lines to meet late season demand for fertilizer.</p>
<p>In January, Union Pacific warned COVID-19 cases among its staff and paid time off for people getting inoculated would hurt its ability to move freight in the current quarter.</p>
<p>&#8220;The timing of this action by Union Pacific could not come at a worse time for farmers,&#8221; CF CEO Tony Will said Thursday.</p>
<p>&#8220;Not only will fertilizer be delayed by these shipping restrictions, but additional fertilizer needed to complete spring applications may be unable to reach farmers at all,&#8221; he added.</p>
<p>CF has five U.S. nitrogen manufacturing complexes in all, along with two plants in the United Kingdom and two in Canada, at Medicine Hat, Alta. and Courtright, Ont.</p>
<p><em>&#8212; Reporting for Reuters by Rithika Krishna in Bangalore</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/cf-industries-warns-of-shipment-delays-via-union-pacific/">CF Industries warns of shipment delays via Union Pacific</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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				<post-id xmlns="com-wordpress:feed-additions:1">119155</post-id>	</item>
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		<title>CF Industries boosts U.S. fertilizer shipments as Russian exports cut</title>

		<link>
		https://www.country-guide.ca/daily/cf-industries-boosts-u-s-fertilizer-shipments-as-russian-exports-cut/		 </link>
		<pubDate>Wed, 16 Mar 2022 20:44:27 +0000</pubDate>
				<dc:creator><![CDATA[Tom Polansek]]></dc:creator>
						<category><![CDATA[Crops]]></category>
		<category><![CDATA[Markets]]></category>
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		<category><![CDATA[Belarus]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[cf industries]]></category>
		<category><![CDATA[exports]]></category>
		<category><![CDATA[fertilizer]]></category>
		<category><![CDATA[nitrogen]]></category>
		<category><![CDATA[Russia]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">https://www.country-guide.ca/daily/cf-industries-boosts-u-s-fertilizer-shipments-as-russian-exports-cut/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">2</span> <span class="rt-label rt-postfix">minutes</span></span> Chicago &#124; Reuters &#8212; CF Industries is increasing fertilizer shipments to both U.S. coasts from the world&#8217;s largest nitrogen complex in Louisiana to help offset a decline in exports from Russia after it invaded Ukraine, CEO Tony Will said. Global fertilizer supplies have tightened and prices have increased from already high levels as sanctions bite [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/cf-industries-boosts-u-s-fertilizer-shipments-as-russian-exports-cut/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/cf-industries-boosts-u-s-fertilizer-shipments-as-russian-exports-cut/">CF Industries boosts U.S. fertilizer shipments as Russian exports cut</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
]]></description>
								<content:encoded><![CDATA[<p><em>Chicago | Reuters &#8212;</em> CF Industries is increasing fertilizer shipments to both U.S. coasts from the world&#8217;s largest nitrogen complex in Louisiana to help offset a decline in exports from Russia after it invaded Ukraine, CEO Tony Will said.</p>
<p>Global fertilizer supplies have tightened and prices have increased from already high levels as sanctions bite Russia and its ally Belarus. Nitrogen fertilizer is one of the most commonly used fertilizers to boost production of corn, canola and other crops.</p>
<p>Illinois-based CF leased several vessels to transport more fertilizer, mostly liquid nitrogen, from its complex at Donaldsonville, La., Will told Reuters. The company can ship products up the Mississippi River to the Midwest and load vessels to sail downriver through the Gulf of Mexico to tanks on either coast.</p>
<p>&#8220;Historically a fair bit of Russian imports have come particularly to the East Coast, and we&#8217;re trying to make up for that lack of availability by moving our tons over there,&#8221; Will said.</p>
<p>Russia has previously accounted for 15 per cent of U.S. nitrogen imports, said the Fertilizer Institute, an industry group. Russia is also a major exporter of natural gas, a key input in producing nitrogen fertilizer.</p>
<p>To boost supplies, CF delayed maintenance work at one of its six plants in Donaldsonville until the second half of the year to avoid taking the facility offline, Will said.</p>
<p>&#8220;The plant is running less efficiently than it would, but it&#8217;s still better to have it online,&#8221; he said.</p>
<p>CF Industries has five U.S. nitrogen manufacturing complexes, along with two plants each in Canada and the United Kingdom. The company&#8217;s ability to increase production is limited because it tries to operate plants at their maximum rate all year, Will said.</p>
<p>&#8220;We&#8217;re moving as much product as we can right now with the assets that we have available,&#8221; he said.</p>
<p>Nutrien, another fertilizer producer, has said Russia&#8217;s invasion of Ukraine could result in prolonged disruptions to global fertilizer supplies.</p>
<p>Russia calls its actions in Ukraine a &#8220;special operation.&#8221;</p>
<p><strong>&#8212; Tom Polansek</strong> <em>reports on agriculture and agribusiness for Reuters from Chicago</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/cf-industries-boosts-u-s-fertilizer-shipments-as-russian-exports-cut/">CF Industries boosts U.S. fertilizer shipments as Russian exports cut</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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		<title>Yara brings most European ammonia production back on stream</title>

		<link>
		https://www.country-guide.ca/daily/yara-brings-most-european-ammonia-production-back-on-stream/		 </link>
		<pubDate>Thu, 16 Dec 2021 01:18:25 +0000</pubDate>
				<dc:creator><![CDATA[Nora Buli, Victoria Klesty]]></dc:creator>
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		<category><![CDATA[Markets]]></category>
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		<category><![CDATA[ammonia]]></category>
		<category><![CDATA[anhydrous ammonia]]></category>
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		<guid isPermaLink="false">https://www.country-guide.ca/daily/yara-brings-most-european-ammonia-production-back-on-stream/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">2</span> <span class="rt-label rt-postfix">minutes</span></span> Oslo &#124; Reuters &#8212; Yara has brought most of its European ammonia production back on line after prices of finished fertilizers rose to make up for a surge in the cost of gas, the Norwegian fertilizer manufacturer said on Wednesday. The company cut back ammonia production at a number of sites in Europe from September [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/yara-brings-most-european-ammonia-production-back-on-stream/">Read more</a></p>
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								<content:encoded><![CDATA[<p><em>Oslo | Reuters &#8212;</em> Yara has brought most of its European ammonia production back on line after prices of finished fertilizers rose to make up for a surge in the cost of gas, the Norwegian fertilizer manufacturer said on Wednesday.</p>
<p>The company cut back ammonia production at a number of sites in Europe from September through November following a jump in the price of the natural gas used in the manufacturing process, hitting its overall output in the region by 30 per cent.</p>
<p>Fertilizer prices have risen sharply this year, tracking higher energy costs, putting key crops at risk and adding to global food security and inflation fears, analysts say.</p>
<p>&#8220;The price of finished nitrogen fertilizer has risen in the quarter to a level where it has been profitable for us to start up production and, in addition, the global ammonia price has also risen,&#8221; a Yara spokesperson said.</p>
<p>The company said in a statement that while it aimed to keep supplying customers, it couldn&#8217;t rule out cutting back ammonia production again if necessary.</p>
<p>Rivals including CF Industries have also cut production.</p>
<p>Including maintenance and unscheduled outages, Yara&#8217;s European ammonia production was approximately 370,000 tonnes below capacity during the curtailments.</p>
<p>&#8220;The impact on finished fertilizer production has been limited, as unprofitable ammonia production has been replaced with sourcing from Yara plants outside Europe, and from Yara&#8217;s global ammonia trade and shipping network,&#8221; the company said.</p>
<p>CEO Svein Tore Holsether told Reuters last month that some capacity at Yara&#8217;s Dutch plants had already been brought back on stream.</p>
<p>European wholesale gas prices have surged as much as 700 per cent this year as demand recovered rapidly from a pandemic slump at a time of low storage levels and supply constraints.</p>
<p>As of Tuesday, the European benchmark was 570 per cent higher than at the start of 2021.</p>
<p>As a result of supply constraints, farmers in Europe have scrambled to buy urea and liquid nitrogen at elevated prices for fear of running short in the planting season.</p>
<p>Yara has the capacity to produce 8.5 million tonnes of ammonia per year worldwide, with 4.9 million tonnes of that coming from Europe.</p>
<p>Ammonia is an ingredient in finished products used to fertilize crops but also goes into explosives and for cleaning exhaust from diesel engines, among other applications.</p>
<p><em>&#8212; Reporting for Reuters by Victoria Klesty and Nora Buli; additional reporting by Terje Solsvik</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/yara-brings-most-european-ammonia-production-back-on-stream/">Yara brings most European ammonia production back on stream</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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		<title>Britain tells its food industry to prepare for CO2 price shock</title>

		<link>
		https://www.country-guide.ca/daily/britain-tells-its-food-industry-to-prepare-for-co2-price-shock/		 </link>
		<pubDate>Wed, 22 Sep 2021 21:00:16 +0000</pubDate>
				<dc:creator><![CDATA[Guy Faulconbridge, James Davey, Kate Holton]]></dc:creator>
						<category><![CDATA[Livestock]]></category>
		<category><![CDATA[Reuters]]></category>
		<category><![CDATA[Britain]]></category>
		<category><![CDATA[Carbon dioxide]]></category>
		<category><![CDATA[cf industries]]></category>
		<category><![CDATA[fertilizer]]></category>
		<category><![CDATA[Meat]]></category>
		<category><![CDATA[natural gas]]></category>
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		<guid isPermaLink="false">https://www.country-guide.ca/daily/britain-tells-its-food-industry-to-prepare-for-co2-price-shock/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">3</span> <span class="rt-label rt-postfix">minutes</span></span> London &#124; Reuters &#8212; Britain warned its food producers on Wednesday to prepare for a 400 per cent rise in carbon dioxide prices after extending emergency state support to avert a shortage of poultry and meat triggered by soaring costs of wholesale natural gas. Natural gas prices have spiked this year as economies reopened from [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/britain-tells-its-food-industry-to-prepare-for-co2-price-shock/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/britain-tells-its-food-industry-to-prepare-for-co2-price-shock/">Britain tells its food industry to prepare for CO2 price shock</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
]]></description>
								<content:encoded><![CDATA[<p><em>London | Reuters &#8212;</em> Britain warned its food producers on Wednesday to prepare for a 400 per cent rise in carbon dioxide prices after extending emergency state support to avert a shortage of poultry and meat triggered by soaring costs of wholesale natural gas.</p>
<p>Natural gas prices have spiked this year as economies reopened from COVID-19 lockdowns and high demand for liquefied natural gas in Asia pushed down supplies to Europe, sending shockwaves through industries reliant on the energy source.</p>
<p>Carbon dioxide (CO2) is a byproduct of the fertilizer industry &#8212; Britain&#8217;s main source of CO2 &#8212; where natural gas is the biggest input cost. Industrial gas companies, including Linde, Air Liquide and Air Products and Chemicals, get their CO2 mainly from fertilizer plants.</p>
<p>The natural gas price surge has forced some fertilizer plants to shut in recent weeks, leading to a shortage of CO2 used to put the fizz into beer and sodas and stun poultry and pigs before slaughter.</p>
<p>As CO2 stocks dwindled, Britain struck a deal with U.S. company CF Industries, which supplies some 60 per cent of Britain&#8217;s CO2, to restart production at two plants which were shut because they had become unprofitable due to the gas price rise.</p>
<p>&#8220;We need the market to adjust, the food industry knows there&#8217;s going to be a sharp rise in the cost of carbon dioxide,&#8221; Environment Secretary George Eustice told Sky News.</p>
<p>It would have to accept that the price of CO2 would rise sharply, to around 1,000 pounds (C$1,739) a tonne from 200 pounds a tonne, Eustice said, adding: &#8220;So a big, sharp rise.&#8221;</p>
<p>The three-week support for CF would cost &#8220;many millions, possibly tens of millions but it&#8217;s to underpin some of those fixed costs,&#8221; Eustice said.</p>
<p>A spokesperson for Prime Minister Boris Johnson said the government was giving CF the difference between its total production costs and what it receives from the sale of CO2.</p>
<p>Business Secretary Kwasi Kwarteng, who also serves as energy minister, told lawmakers he was confident the country could also secure other sources of the gas.</p>
<p>It was not immediately clear how the state intervention by one of Europe&#8217;s most traditionally laissez-faire governments would affect the <a href="https://www.albertafarmexpress.ca/news/fertilizer-prices-climb-sky-high/">price of fertilizer</a> &#8212; another key cost for food producers &#8212; and whether or not it would stoke demands from other energy-heavy industries for similar state support.</p>
<h4>Christmas shortages?</h4>
<p>Ministers, including Johnson, have repeatedly brushed aside suggestions there could be shortages of traditional Christmas fare such as roast turkey, though some suppliers have warned of them.</p>
<p>Kwarteng has said there would be no return to the 1970s when Britain was plagued by power cuts that made the economy the &#8220;sick man of Europe,&#8221; with three-day working weeks and people unable to heat their homes.</p>
<p>Eustice said without the deal some of Britain&#8217;s meat and poultry processors would have run out of CO2 within days.</p>
<p>&#8220;We know that if we did not act, then by this weekend or certainly by the early part of next week, some of the poultry processing plants would need to close,&#8221; he added.</p>
<p>He said the impact on food prices would be negligible.</p>
<p>But the boss of supermarket Iceland said the temporary arrangement would not solve the food industry&#8217;s problems.</p>
<p>&#8220;A three-week deal won&#8217;t save Christmas,&#8221; said managing director Richard Walker. &#8220;And certainly won&#8217;t resolve the issue in the long term.&#8221;</p>
<p>The British Poultry Council welcomed the deal but said the industry was still facing huge pressures from labour shortages and estimated Christmas turkey production will be down by 20 per cent this year.</p>
<p>Similarly the British Meat Processors Association expressed &#8220;huge relief.&#8221;</p>
<p>&#8220;We are focused on re-establishing (CO2) supplies before Friday this week which is when around 25 per cent of pork production was in danger of shutting down,&#8221; it said.</p>
<p>Britain&#8217;s Food and Drink Federation said there will still be shortages of some products though they will not be as bad as previously feared, while the British Soft Drinks Association warned it would take up to two weeks before production from CF made any positive impact on market conditions.</p>
<p>Marks + Spencer, which typically sells one in four fresh turkeys consumed in the United Kingdom at Christmas, struck a more optimistic note, saying it was confident of full supply.</p>
<p>Britain&#8217;s opposition Labour party said the government needed to explain the contingency plans in place in case the C02 issues are not resolved in three weeks.</p>
<p><em>&#8212; Reporting for Reuters by Guy Faulconbridge, Kate Holton and James Davey; additional reporting by Nigel Hunt and Elizabeth Piper</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/britain-tells-its-food-industry-to-prepare-for-co2-price-shock/">Britain tells its food industry to prepare for CO2 price shock</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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		<title>Facing green push on farm, fertilizer makers look to sea for growth</title>

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		https://www.country-guide.ca/daily/facing-green-push-on-farm-fertilizer-makers-look-to-sea-for-growth/		 </link>
		<pubDate>Thu, 21 Jan 2021 20:10:47 +0000</pubDate>
				<dc:creator><![CDATA[Rod Nickel, Victoria Klesty]]></dc:creator>
						<category><![CDATA[Crops]]></category>
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		<category><![CDATA[nitrogen]]></category>
		<category><![CDATA[Nutrien]]></category>
		<category><![CDATA[ships]]></category>
		<category><![CDATA[yara]]></category>

		<guid isPermaLink="false">https://www.country-guide.ca/daily/facing-green-push-on-farm-fertilizer-makers-look-to-sea-for-growth/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">4</span> <span class="rt-label rt-postfix">minutes</span></span> Winnipeg/Oslo &#124; Reuters &#8212; Two of the world&#8217;s biggest fertilizer producers, CF Industries and Yara International, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the U.S. and Norway to produce clean energy to power ships. The consumption of oil for transportation is one of the top contributors to [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/facing-green-push-on-farm-fertilizer-makers-look-to-sea-for-growth/">Read more</a></p>
<p>The post <a href="https://www.country-guide.ca/daily/facing-green-push-on-farm-fertilizer-makers-look-to-sea-for-growth/">Facing green push on farm, fertilizer makers look to sea for growth</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
]]></description>
								<content:encoded><![CDATA[<p><em>Winnipeg/Oslo | Reuters &#8212;</em> Two of the world&#8217;s biggest fertilizer producers, CF Industries and Yara International, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the U.S. and Norway to produce clean energy to power ships.</p>
<p>The consumption of oil for transportation is one of the top contributors to global greenhouse gas emissions that cause climate change, and fertilizer producers join a growing list of companies adjusting their business models to profit from a future lower-carbon economy.</p>
<p>By altering the production process for ammonia normally used for fertilizer, the companies told Reuters they can produce hydrogen for fuel or a form of carbon-free ammonia used either as a carrier for hydrogen or as a marine fuel to power cargo and even cruise ships.</p>
<p>The shift may improve their standing with environment-minded investors as fertilizer emissions attract greater government scrutiny in North America and Europe.</p>
<p>But the green fuels are not yet commercial and will require significant investment to turn a profit &#8212; a reality that has the world&#8217;s largest fertilizer producer, Canada&#8217;s Nutrien, staying out of the space for now. Oslo-based Yara is seeking government subsidies to proceed.</p>
<p>Still, renewable ammonia represents a six billion-euro (C$9.2 billion) opportunity for fertilizer producers by 2030, according to Citibank, based on 20 million tonnes of annual sales globally for clean power and shipping fuel compared with virtually none now. Global ammonia sales currently amount to 180 million tonnes.</p>
<p>&#8220;We absolutely could be known more for being a clean energy company than an ag supplier,&#8221; CF CEO Tony Will said in an interview, speaking of long-term prospects for the Illinois-based company.</p>
<h4>&#8216;Everybody is looking for solutions&#8217;</h4>
<p>Fertilizer plants separate hydrogen from natural gas and combine it with nitrogen taken from the air to make ammonia, which farmers inject into soil to maximize crop growth.</p>
<p>Production generates carbon emissions that CF says it can avoid by extracting hydrogen instead from water charged with electricity. It can then combine that hydrogen with nitrogen to make green ammonia, which the marine industry is testing as fuel.</p>
<p>CF is in discussions about selling green ammonia to a Japanese power consortium including Mitsubishi Corp., but buyers will break most of it down to pure hydrogen for use in transportation sectors.</p>
<p>&#8220;This is a market that easily can exceed what the total ammonia (fertilizer) market is,&#8221; Will said. &#8220;We&#8217;re going to grow into that over the next 20-25 years.&#8221;</p>
<p>Adopting green ammonia or green hydrogen to replace crude oil-based fuel would help the International Maritime Organization (IMO) meet a target to reduce emissions, and is suited to both short- and long-haul vessels.</p>
<p>Methanol and liquefied natural gas (LNG) are other clean alternatives.</p>
<p>&#8220;Everybody is looking for solutions and I think the jury is still out,&#8221; said Tore Longva, alternative fuels expert at Oslo-based maritime advisor DNV GL. &#8220;Of all the fuels, (green ammonia) is probably the one that we are slightly more optimistic on, but it&#8217;s by no means a given.&#8221;</p>
<p>Ammonia remains toxic and corrosive, requiring special handling on ships, Longva said.</p>
<p>Furthermore, combusting ammonia may produce nitrous oxide, a greenhouse gas, that ships would need to neutralize to prevent emissions, said Faig Abbasov, shipping director for European Federation for Transport and Environment, an umbrella group of non-governmental organizations. Fuel cells are another potential marine use for ammonia and hydrogen.</p>
<p>Still, Abbasov sees ammonia and hydrogen as the greenest and most practical shipping fuel alternatives, and cheaper than methanol.</p>
<p>Development of ammonia and hydrogen for shipping fuel holds decarbonization potential but is at the pilot stage for small vessels, while LNG and methanol are in use on ocean-going ships, an IMO spokeswoman said.</p>
<p>South Korea&#8217;s Daewoo Shipbuilding + Marine Engineering , one of the world&#8217;s biggest shipbuilders, plans to commercialize super-large container ships powered by ammonia by 2025, a spokesman said.</p>
<h4>The plans</h4>
<p>CF is reconfiguring its Donaldsonville, Louisiana, plant to produce green ammonia. It plans to spend US$100 million initially to enable the plant to produce by 2023, about 18,000 tonnes. By 2026, production across its network could reach 450,000 tonnes, and 900,000 tonnes by 2028, Will said.</p>
<p>The hydrogen it will sell may have nearly 10 times the margin of ammonia fertilizer, according to CF, making the 75-year-old farm company&#8217;s newest product its most profitable.</p>
<p>Yara is developing a green ammonia project with power company Orsted in the Netherlands and also has green projects running in Australia and Norway.</p>
<p>Unlike CF, Yara is seeking government subsidies because green ammonia costs could be two to four times higher than conventional production, said Terje Knutsen, Yara&#8217;s head of farming solutions.</p>
<p>&#8220;The technology behind this is not mature enough today,&#8221; he said.</p>
<p>Yara, which aims to cut all CO2 emissions from its 500,000 tonnes-a-year Porsgrunn ammonia plant in Norway, wants funding from the Norwegian government to switch the plant&#8217;s production process to electricity by 2026.</p>
<p>Norway already supports hydrogen and green ammonia through a tax exemption on electricity used to produce hydrogen, Minister of Climate and Environment Sveinung Rotevatn said in an email.</p>
<p>&#8220;Hydrogen and hydrogen-based solutions, such as ammonia, will be important in reducing greenhouse gas emissions in the future,&#8221; Rotevatn said.</p>
<p>Global ammonia production would need to multiply five-fold if it is to replace all oil-based shipping fuel, Abbasov said. But given the abundance of nitrogen in the air, potential supply is almost unlimited if production costs drop, he said.</p>
<p>Nutrien is looking into green ammonia, but sees high costs and insufficient prices as major obstacles, CEO Chuck Magro said.</p>
<p>Industry efforts underway to produce small volumes of green ammonia are largely &#8220;window-dressing,&#8221; Raef Sully, Nutrien&#8217;s executive vice-president for nitrogen.</p>
<p>&#8220;The reason (for Nutrien) to look at it is to position ourselves for when people are willing to pay,&#8221; Sully said.</p>
<p>&#8220;The problem is we&#8217;re just right at the start of development.&#8221;</p>
<p><em>&#8212; Reporting for Reuters by Rod Nickel in Winnipeg and Victoria Klesty in Oslo; additional reporting by Jonathan Saul in London</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/facing-green-push-on-farm-fertilizer-makers-look-to-sea-for-growth/">Facing green push on farm, fertilizer makers look to sea for growth</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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				<post-id xmlns="com-wordpress:feed-additions:1">110257</post-id>	</item>
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		<title>Fertilizer maker CF Industries, OCI end merger deal</title>

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		https://www.country-guide.ca/daily/fertilizer-maker-cf-industries-oci-end-merger-deal/		 </link>
		<pubDate>Mon, 23 May 2016 20:18:09 +0000</pubDate>
				<dc:creator><![CDATA[Reuters]]></dc:creator>
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		<guid isPermaLink="false">http://www.country-guide.ca/daily/fertilizer-maker-cf-industries-oci-end-merger-deal/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">&#60; 1</span> <span class="rt-label rt-postfix">minute</span></span> Reuters &#8212; U.S. fertilizer maker CF Industries Holdings Inc and Dutch rival OCI NV ended their merger agreement on Monday, following the U.S. Treasury&#8217;s steps to curb tax avoiding inversion deals. CF Industries had agreed to buy OCI NV&#8217;s North American and European plants for US$6 billion in August, in addition to assuming US$2 billion [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/fertilizer-maker-cf-industries-oci-end-merger-deal/">Read more</a></p>
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]]></description>
								<content:encoded><![CDATA[<p><em>Reuters</em> &#8212; U.S. fertilizer maker CF Industries Holdings Inc and Dutch rival OCI NV ended their merger agreement on Monday, following the U.S. Treasury&#8217;s steps to curb tax avoiding inversion deals.</p>
<p>CF Industries had agreed to buy OCI NV&#8217;s North American and European plants for US$6 billion in August, in addition to assuming US$2 billion of OCI&#8217;s debt, to create the world&#8217;s largest publicly traded nitrogen company.</p>
<p>&#8220;&#8230;changes in the regulatory and commercial environments forced us to re-evaluate the combination,&#8221; CF CEO Tony Will said in a statement.</p>
<p>CF will pay OCI a termination fee of US$150 million related to the deal.</p>
<p>In April, the U.S. Treasury Department and Internal Revenue Service announced new steps to curb &#8220;inversion&#8221; deals that U.S. companies do with foreign corporations, including earnings stripping.</p>
<p>The latest steps impose a three-year limit on foreign companies bulking up on U.S. assets to avoid ownership requirements for a later inversions deal.</p>
<p>&#8212; <em>Reporting for Reuters by Abinaya Vijayaraghavan in Bangalore</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/fertilizer-maker-cf-industries-oci-end-merger-deal/">Fertilizer maker CF Industries, OCI end merger deal</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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		<title>CHS says Viterra intriguing at right price</title>

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		https://www.country-guide.ca/daily/chs-says-stake-in-viterra-intriguing-at-right-price/		 </link>
		<pubDate>Wed, 30 Sep 2015 20:42:56 +0000</pubDate>
				<dc:creator><![CDATA[Karl Plume]]></dc:creator>
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		<guid isPermaLink="false">http://www.country-guide.ca/daily/chs-says-stake-in-viterra-intriguing-at-right-price/</guid>
				<description><![CDATA[<p><span class="rt-reading-time" style="display: block;"><span class="rt-label rt-prefix">Reading Time: </span> <span class="rt-time">2</span> <span class="rt-label rt-postfix">minutes</span></span> Chicago &#124; Reuters &#8212; U.S. farm co-operative and grains trader CHS Inc. would be interested in the Canadian grain handling assets of embattled commodities trader Glencore, but only if they came at a discounted price, CHS CEO Carl Casale said in an exclusive interview. As part of a debt-reduction plan, Swiss-based Glencore has said it [&#8230;] <a class="read-more" href="https://www.country-guide.ca/daily/chs-says-stake-in-viterra-intriguing-at-right-price/">Read more</a></p>
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]]></description>
								<content:encoded><![CDATA[<p><em>Chicago | Reuters &#8212;</em> U.S. farm co-operative and grains trader CHS Inc. would be interested in the Canadian grain handling assets of embattled commodities trader Glencore, but only if they came at a discounted price, CHS CEO Carl Casale said in an exclusive interview.</p>
<p>As part of a debt-reduction plan, Swiss-based Glencore has said it could sell a minority stake in its agricultural business, which includes assets from its <a href="http://www.agcanada.com/daily/thats-a-wrap-glencore-now-running-viterra">2012 purchase</a> of Canada&#8217;s largest grain handler Viterra. Analysts say all of Glencore&#8217;s agricultural assets could be on the trading block.</p>
<p>While Casale said CHS isn&#8217;t actively looking for such assets right now, CHS would &#8220;certainly take a look and see if there&#8217;s an opportunity&#8221; to fill gaps in its Canadian portfolio if Glencore were to sell off its stake.</p>
<p>However, he said, &#8220;It also has to meet our return hurdles or we won&#8217;t be a buyer.&#8221;</p>
<p>A presence in one of the world&#8217;s top spring wheat producers and major exporter of crops such as barley and canola has been high on the wish lists of multinational grain traders since the disbanding of the world&#8217;s last major crop marketing monopoly in 2012.</p>
<p>Minnesota-based CHS has been actively bolstering its core agriculture and energy businesses over the past three to four years with the purchase of two Illinois ethanol plants, grain elevators, a Kansas oil refinery and a <a href="http://www.agcanada.com/daily/over-the-border-canola-crusher-gets-new-owner">Minnesota canola crush plant</a> just south of the Manitoba border.</p>
<p>CHS also holds a 12 per cent stake in processor Ardent Mills, whose Canadian holdings include flour mills in Saskatoon, Montreal and <a href="http://www.agcanada.com/daily/ardent-to-buy-major-ontario-soft-wheat-mill">Mississauga</a>.</p>
<p>A <a href="http://www.agcanada.com/daily/chs-locks-in-fertilizer-supply-scraps-plan-for-n-d-plant">recent US$2.8 billion deal</a> for a stake in CF Industries&#8217; nitrogen fertilizer business was the largest-ever acquisition for CHS.</p>
<p>Glencore&#8217;s Canadian assets include grain elevators, mills, processing plants and port facilities acquired as part of a more than US$6 billion deal for Viterra in 2012, near the height of a commodities price boom.</p>
<p>Crop prices have since fallen by nearly half, with benchmark corn, soybean and wheat prices all hitting multi-year lows this summer.</p>
<p>As a result, CHS would not be willing to pay peak-market prices for processing plants, elevators and other grain handling assets due to smaller projected returns on those investments.</p>
<p>&#8220;It&#8217;s just really difficult to earn the returns on some of these things right now,&#8221; Casale said.</p>
<p>&#8220;They&#8217;re going to have to be realistic in terms of what the real value of those assets are in today&#8217;s market.&#8221;</p>
<p>&#8212; <strong>Karl Plume</strong> <em>reports on agriculture and ag commodity markets for Reuters from Chicago. Includes files from AGCanada.com Network staff</em>.</p>
<p>The post <a href="https://www.country-guide.ca/daily/chs-says-stake-in-viterra-intriguing-at-right-price/">CHS says Viterra intriguing at right price</a> appeared first on <a href="https://www.country-guide.ca">Country Guide</a>.</p>
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