(MENAFN) A huge fertilizer company’s CEO declares, an international scarcity in fertilizers is raising the costs of food products and leading underdeveloped countries to encounter a huge problem.
Expensive gas costs are raising the prices of fertilizers and impaction the costs of food everywhere in the world, stated Svein Tore Holsether, chief executive of Yara International.
Fertilizers need huge quantities of gas in the process of making.
He reported Yara had to eliminate a portion of manufacture because of the growing gas costs, which resulted in fertilizers scarcity.
Mr Holsether also mentioned, poor nations would be the most affected by the scarcity crisis while harvest decreases and food products’ costs go up.
He said to the BBC's Today programme, “It's really scary, we are facing a food crisis and vulnerable people are being hit very hard,” adding “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.”
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