Nitrogen prices have climbed as China’s shutdown of coal-fired plants and high European costs of natural gas, a key ingredient in fertilizer production, have curbed capacity outside North America. Canadian fertiliser giant Nutrien plans to extend its nitrogen fertiliser factories in North America due to higher prices, according to CEO Chuck Magro. China's closure of coal-fired power plants and the increased cost of natural gas in Europe have curbed production outside of the North American continent, leading to higher prices. The company is also looking at expanding into other parts of the world, including Asia, where demand for fertilizer has been growing rapidly as a result of population growth.
Canadian fertiliser giant Nutrien plans to extend its nitrogen fertiliser factories in North America due to higher prices, according to CEO Chuck Magro. China's closure of coal-fired power plants and the increased cost of natural gas in Europe have curbed production outside of the North American continent, leading to higher prices. The company is also looking at expanding into other parts of the world, including Asia, where demand for fertilizer has been growing rapidly as a result of population growth.