YARIY Yara International ASA (PK)

By Dominic Chopping

Norwegian fertilizer producer Yara International ASA said Wednesday that it is temporarily curtailing production at two of its European plants due to the record high natural-gas prices in Europe.

Yara said the move relates to its Ferrara, Italy and Le Havre, France plants, which together have combined annual capacity of one million metric tons of ammonia and 900,000 tons of urea.

Including optimization and maintenance at other production facilities, Yara's European ammonia and urea production is expected to be operating at approximately 45% of capacity by the end of this week, it said.

"Yara will continue to monitor the situation and to the extent possible use its global production system to keep supplying customers and secure continuity in food supply chains, but curtailing production where necessary due to challenging market conditions," the company said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 09, 2022 02:29 ET (07:29 GMT)

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