A global shortage of fertilisers is driving up food prices and leaving poorer countries facing crisis, says the boss of a major fertiliser firm. Svein Tore Holsether, chief executive of Yara International, told the BBC higher gas prices were pushing up fertiliser costs and affecting food prices worldwide.
Fertiliser requires large amounts of gas in its production. Mr Holsether said Yara had been forced to cut some production due to higher gas prices, which had led to shortages.
The chief executive said developing countries would be hit hardest by the shortages, with crop yields declining and food prices rising.
“It’s really scary, we are facing a food crisis and vulnerable people are being hit very hard,” he told the BBC’s Today programme. “It’s impacting food prices all over the world and it hits the wallets of many people. But for some people, especially in the developing world, this is not only a question about the wallet, but it’s a question of life or death.”
Source: BBC News. Read the full story here
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