London Daily

Focus on the big picture.
Tuesday, Jul 28, 2026

Impact of Ukraine war on global food security 'will be dramatic'

Impact of Ukraine war on global food security 'will be dramatic'

Yara, one of the world's largest fertiliser producers, says that a quarter of Europe's supply of key crop nutrients, potash, and phosphate come from Russia.

One of the world's largest fertiliser producers has warned that the impact of the war in Ukraine on global food security "will be dramatic".

Svein Tore Holsether is chief executive of Norwegian company Yara, and he was speaking as the company posted better-than-expected profits for the first quarter of the year.

In its financial results, Yara warned that, because a quarter of Europe's supply of key crop nutrients, potash, and phosphate come from Russia, the continent's food production will be heavily affected by the Russian invasion of Ukraine.

Mr Holsether added: "Although Yara's business is flexible and resilient, the impact of the war on global food security will be dramatic.

Earnings before interest, tax, depreciation and amortisation (EBITDA), excluding one-off items, rose to $1.35bn (£1.07bn) from $585m (£465m) at the same time last year.

But the company also said it expects to pay $1.15bn (£900m) more for natural gas in the second quarter when compared to last year, and $750m (£596m) more in the third quarter.

Natural gas is needed for the nitrogen-containing fertiliser process and the price of it hit record levels after Russia's invasion of Ukraine late in February, consequently pushing fertiliser prices higher in March.

Yara, which is listed in Oslo, curtailed ammonia production at two of its European sites last month due to the high gas costs, but it has since restarted production.

It comes after numerous warnings about the effect that the war could have on the supply of other staples.

Ukraine and Russia are big players in world food production, representing 53% of global trade in sunflower oil and seeds, and 27% in wheat, according to the United Nations.

There are particular concerns for how these shortages could affect developing countries - 25 African countries import more than a third of their wheat from Ukraine and Russia, for example.

Newsletter

Related Articles

0:00
0:00
Close
Badenoch Offers Tory Votes to Keep Serious Offenders in Prison
Why Americans Queue for $15 Ice Cream and a $100 Caviar Pint
Another AI Genius Left the United States — and Silicon Valley Is Starting to Worry
Shein Reports $99mn Loss as Trade Barriers Test Low-Cost Model
CXMT Gains 466% in China’s Biggest IPO Since 2010
Amazon Seeks Approval for 5,105-Satellite Mobile Network
Burnham Puts School-to-Work Reform at Centre of Welfare Strategy
Johnson & Johnson Agrees to $5.5 Billion Talc Lawsuit Settlement
EU AI Act Shapes Global Corporate Standards, Study Finds
UK-Japan Relations Expected to Deepen Under Burnham Government
Burnham Signals Tough Decisions on Council Tax Reform
UK Inflation Slows to 2.6% in June
Bank of England Holds Interest Rates at 3.75%
Prime Minister Burnham Opens Talks With Business Leaders on Economic Growth
Government Launches 'Number Ten North' to Drive UK Devolution
Labour Regains Poll Lead After Burnham's First Weeks in Office
Prime Minister Burnham Rules Out Early UK General Election Before 2029
Burnham Rules Out Replacing Council Tax and Stamp Duty
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
The Burnham government is seeking to establish its credibility through ambitious social care reform while maintaining fiscal discipline and public confidence in the National Health Service. Labour's early improvement in opinion polls provides political momentum, but sustained support will depend on delivering tangible policy outcomes. Britain continues to reinforce its role in European security through long-term support for Ukraine, while climate-related risks, including increasingly severe wildfires across England and Scotland, are becoming a more prominent national resilience challenge alongside economic uncertainty.
United Kingdom Economy Remains Exposed to Global Energy Risks
Prime Minister Dismisses Calls for an Early General Election
Scottish Wildfires Continue to Stretch Emergency Services
United Kingdom Faces Rising Wildfire Risk as Heatwave Continues
Lower Oil Prices Ease Inflation Concerns and Support Financial Markets
Financial Conduct Authority Launches Consumer Campaign on Car Finance Compensation
Government Prioritises Employment Over Benefit Cuts in Welfare Reform Plans
Prime Minister Rules Out Sweeping Property Tax Changes Before Autumn Budget
AstraZeneca Beats Expectations as Cancer Medicines Drive Strong Profit Growth
Labour Regains Narrow Polling Lead After Burnham's First Week in Office
United Kingdom Reaffirms Long-Term Commitment to Ukraine Under Burnham Government
Prime Minister Andy Burnham Makes Social Care Reform the First Major Test of His Government
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
Autopsy Finds No Violence in Death of Epstein-Linked Model Scout
Indian Education Minister Resigns After Cockroach Youth Protests
California Desert Data-Centre Plan Stalls as Water and Power Disputes Mount
Northern Ireland Border Security Tightened After Military-Grade Explosive Interception
British Hospitality Sector Targets Summer Visitors Through Regional Promotions
England River Access Debate Intensifies After New Data Shows Limited Public Access
Royal Navy Strengthens Maritime Vigilance Amid Rising Security Concerns
UK Education Department Expands Mental Health Support for Young People Entering Work
UK Tourism Industry Launches Summer Campaigns to Boost Domestic Travel
North England Transport Plans Advance to Support Industrial Growth
Financial Markets Watch New Government’s Economic Strategy as Investors Assess Fiscal Risks
Royal Navy Continues Monitoring Russian Naval Activity Near UK Waters
UK Care Workers May Receive Immigration Exemptions Under Proposed Visa Changes
Health Secretary Yvette Cooper Begins Emergency Talks to Address NHS Staffing Shortages
UK Banks Launch High-Interest Savings Offers to Attract Household Deposits
North Sea Oil Drilling Projects Face Delays After Offshore Equipment Accident
Cairngorms Wildfire Highlights Growing Pressure on UK Emergency Services
×