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Ladybbird · 07-03-22, 13:18

Ukraine War 'Catastrophic For Global Food'

The war in Ukraine will deliver a shock to the global supply and cost of food, the boss of one of the world's biggest fertiliser companies has said.

BBC News 7 MAR 2022.

Yara International, which operates in more than 60 countries, buys considerable amounts of essential raw materials from Russia.

Fertiliser prices were already high due to soaring wholesale gas prices.

Yara's boss, Svein Tore Holsether, has warned the situation could get even tougher.

"Things are changing by the hour," he told the BBC.

"We were already in a difficult situation before the war... and now it's additional disruption to the supply chains and we're getting close to the most important part of this season for the Northern hemisphere, where a lot of fertiliser needs to move on and that will quite likely be impacted."

Russia and Ukraine are some of the biggest producers in agriculture and food globally.

Russia also produces enormous amounts of nutrients, like potash and phosphate - key ingredients in fertilisers, which enable plants and crops to grow.

"Half the world's population gets food as a result of fertilisers... and if that's removed from the field for some crops, [the yield] will drop by 50%," Mr Holsether said.

"For me, it's not whether we are moving into a global food crisis - it's how large the crisis will be."

Svein Tore Holsether said fertiliser prices were already high due to soaring gas prices

His company has already been affected by the conflict after a missile hit Yara's office in Kyiv. The 11 staff were unharmed.

The Norwegian-based company isn't directly affected by sanctions against Russia, but is having to deal with the fall-out. Trying to secure deliveries has become more difficult due to disruption in the shipping industry.

Just hours after Mr Holsether spoke to the BBC, the Russian government urged its producers to halt fertiliser exports.

He pointed out that about a quarter of the key nutrients used in European food production come from Russia.

"At the same time we're doing whatever we can do at the moment to also find additional sources. But with such short timelines it's limited," he said before the news emerged.

Analysts have also warned that the move would mean higher costs for farmers and lower crop yields. That could feed through into even higher costs for food.

Fears of UK food and fuel prices rising due to war
Energy shock: The economic reality of Putin's war
Nutrients aren't the only factor to consider, either.

Huge amounts of natural gas are needed to produce ammonia, the key ingredient in nitrogen fertiliser. Yara International relies on vast quantities of Russian gas for its European plants.

Last year, it was forced to temporarily suspend production of about 40% of its capacity in Europe because of the spike in the price of wholesale gas. Other producers also cut supplies.

Combined with higher shipping rates, sanctions on Belarus (another major potash supplier) and extreme weather - this prompted a big jump in fertiliser prices last year, adding to a surge in food prices.

The company says it's making day-to-day evaluations on how to maintain supply and that it is too early to say if more shutdowns may be on the cards.

It acknowledges it has a "very strong obligation" to keep production running at what it describes as a critical point.

But Yara's boss says the world must, in the long-term, reduce its dependency on Russia for global food production.

"On the one hand, we're trying to keep fertiliser flowing to the farmers to keep up the agricultural yields.

"At the same time... there has to be a strong reaction. We condemn the Russian military invasion of Ukraine so this is a dilemma and one that frankly is very difficult."

Climate change and growing populations had already been adding to the challenges the global food production system faces - all before the pandemic started.

The Yara International chief executive describes the war as "a catastrophe on top of a catastrophe", highlighting just how vulnerable to shocks the global food supply chain now is.

It will increase food insecurity in poorer countries, he adds.

"We have to keep in mind that in the last two years, there's been an increase of 100 million more people that go to bed hungry... so for this to come on top of it is really worrying."

Ladybbird · 13-03-22, 10:56

Putins' WAR = Pasta/Bread/Beer/Milk, and Potato Prices Set to Rise by 50%, Suppliers WARN

The cost of essential foods such as bread, potatoes and pasta is likely to rise by between 4% and 50% over the coming months, according to farmers, importers and manufacturers

AP. 13 MAR 2022.

Foods suppliers have warned of price rises on staples such as bread, potatoes and pasta, in response to inflation and supply pressures linked to the war in Ukraine.

Farmers, importers and manufacturers have warned of increases of 4% and 50%. It comes after the wholesale cost of wheat rose by almost 50% in two weeks.

Ukraine and Russia together supply nearly a third of the world's wheat exports.

Jason Bull, director of Eurostar Commodities, which supplies flour to many food producers, said: "We are in unprecedented times. We've had Brexit, Covid, global warming and now a war. Suppliers are cancelling contracts with immediate effect and putting in big increases. Freight costs are going up while stock is at sea.

"We have real worries about food price inflation and food insecurity. The situation was not good before the war and now it's worse."

Ladybbird · 21-03-22, 12:43

UK Boris Johnson Asks Saudi For Help -Gets Good Response-Saudi Aramco Ramps up to Boost Production

UK PM Talked About OIL & Russia to Saudi / UAE as OIL Price Soars

UK Chancellor and PM Signal Fuel Duty CUT of 5p per Litre

US Seeks Help From Saudi Arabia to Ease Oil Prices -Gets Cold Response-NO

Oil Prices Plummet as Russia Seeks to Revive Nuclear Deal With Iran

BBC 21 MAR 2022

The state-owned oil giant Saudi Aramco plans to sharply increase the amount it invests in energy production,

The firm aims to boost output significantly over the next five years.

Energy prices have soared in recent months as demand has outstripped supplies of oil and gas.

The war in Ukraine and a reluctance to rely on Russia for energy has added to the pressure to find additional sources of energy.

Saudi Aramco's move is likely to be welcomed by political leaders worried about the impact of high energy prices, although the boost to investment is aimed at increasing output over the course of the next five to eight years.

Last week prime minister Boris Johnson visited Saudi Arabia to try to persuade the country to release more oil into world markets in the short term.

Saudi Arabia is the largest producer in the oil cartel Opec (Organization of the Petroleum Exporting Countries) and by raising production it could help to reduce energy prices which are currently at 14-year highs.

However, the country has been condemned for a range of human rights abuses: its involvement in the conflict in neighbouring Yemen, the murder in 2018 of journalist Jamal Khashoggi, for jailing dissidents and for widespread use of capital punishment.

The chancellor, Rishi Sunak, said the prime minister was "absolutely right" to engage with Saudi Arabia over increasing energy supplies.

"It would be wrong if we weren't exploring all the avenues we could to bring cheaper energy and more secure energy to people in this country," Rishi Sunak told the BBC.

The prime minister had "constructive dialogue" about human rights abuses during the visit, he said.

Energy markets have been volatile during the pandemic, as sudden changes in economic activity have influenced both supply and demand.

But a reopening in many countries led to a sharp rise in energy prices in 2021. That boosted revenues at all the large energy generating companies.

Saudi Aramco said it planned to increase its capital expenditure to $45-$50bn this year with further increases until the middle of the decade. Last year capital expenditure was $31.9bn.

It would raise its crude oil "maximum sustainable capacity" to 13 million barrels a day by 2027, the company said. It also aims to increase gas production by more than 50% by 2030. Saudi Arabia produced just over 10 million barrels of oil per day in February.

The oil company more-than doubled its net profit to $110bn in 2021, up from $49bn in 2020.

The price of a barrel of Brent crude oil increased by around 50% in 2021 and, with energy prices remaining high, analysts expect profit to increase further in 2022.

Saudi Aramco said it planned to develop a significant hydrogen export capability and become a global leader in carbon capture and storage technology.

RELATED;

Energy giant ExxonMobil and aviation group Boeing joined the growing list of companies to take action over Russia's invasion of Ukraine.

ExxonMobil said it will exit a multi-billion dollar joint venture with Russian state-owned company Rosneft.

It is the latest oil producer to cut business ties with the country, after similar moves by BP, Shell and Equinor.

ExxonMobil currently operates and holds a stake in the Sakhalin Island oil and gas fields, alongside Rosneft and companies from Japan and India.

It said it would now exit its Russian oil and gas operations, which have been valued at more than $4bn (£3bn), and halt new investments in the country.

Last year, ExxonMobil employed more than 1,000 people across the country, with offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinst, according to its website.

Russia is one of the world's biggest energy producers.

The announcement came as Brent crude - the international benchmark for oil prices - hit $110 a barrel, marking the highest level seen in more than seven years.

Rival energy giant BP said it would offload its 19.75% stake in Rosneft after Russia's "act of aggression in Ukraine".

On the same day, Shell announced that it would end all of its joint ventures with the Russian energy company Gazprom. This includes quitting the flagship Sakhalin II facility, which is partly owned and operated by Gazprom.

Norwegian oil producer Equinor also said it would start the process of divesting from its joint ventures in Russia.,,

Also, aviation giant Boeing said it had suspended "major operations" in Moscow and temporarily closed its office in Kyiv.

"We are also suspending parts, maintenance and technical support services for Russian airlines," a Boeing spokesperson told the BBC.

Canada imported more than $250 million worth of refined petroleum products from Russia in 2021.

US Seeks Help From Saudi Arabia to Ease Oil Prices -Gets Cold Response

Oil Prices Plummet as Russia Seeks to Revive Nuclear Deal With Iran

07-03-22, 13:18	#1
Ladybbird Join Date: Feb 2011 Posts: 47,620 Thanks: 27,641 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	UK Gets Help From Saudi as OIL Price Soars-Saudi Aramco Boosts Production Ukraine War 'Catastrophic For Global Food' The war in Ukraine will deliver a shock to the global supply and cost of food, the boss of one of the world's biggest fertiliser companies has said. *BBC News 7 MAR 2022.* Yara International, which operates in more than 60 countries, buys considerable amounts of essential raw materials from Russia. Fertiliser prices were already high due to soaring wholesale gas prices. Yara's boss, Svein Tore Holsether, has warned the situation could get even tougher. "Things are changing by the hour," he told the BBC. "We were already in a difficult situation before the war... and now it's additional disruption to the supply chains and we're getting close to the most important part of this season for the Northern hemisphere, where a lot of fertiliser needs to move on and that will quite likely be impacted." Russia and Ukraine are some of the biggest producers in agriculture and food globally. Russia also produces enormous amounts of nutrients, like potash and phosphate - key ingredients in fertilisers, which enable plants and crops to grow. "Half the world's population gets food as a result of fertilisers... and if that's removed from the field for some crops, [the yield] will drop by 50%," Mr Holsether said. "For me, it's not whether we are moving into a global food crisis - it's how large the crisis will be." Svein Tore Holsether said fertiliser prices were already high due to soaring gas prices His company has already been affected by the conflict after a missile hit Yara's office in Kyiv. The 11 staff were unharmed. The Norwegian-based company isn't directly affected by sanctions against Russia, but is having to deal with the fall-out. Trying to secure deliveries has become more difficult due to disruption in the shipping industry. Just hours after Mr Holsether spoke to the BBC, the Russian government urged its producers to halt fertiliser exports. He pointed out that about a quarter of the key nutrients used in European food production come from Russia. "At the same time we're doing whatever we can do at the moment to also find additional sources. But with such short timelines it's limited," he said before the news emerged. Analysts have also warned that the move would mean higher costs for farmers and lower crop yields. That could feed through into even higher costs for food. Fears of UK food and fuel prices rising due to war Energy shock: The economic reality of Putin's war *Nutrients aren't the only factor to consider, either.* Huge amounts of natural gas are needed to produce ammonia, the key ingredient in nitrogen fertiliser. Yara International relies on vast quantities of Russian gas for its European plants. Last year, it was forced to temporarily suspend production of about 40% of its capacity in Europe because of the spike in the price of wholesale gas. Other producers also cut supplies. Combined with higher shipping rates, sanctions on Belarus (another major potash supplier) and extreme weather - this prompted a big jump in fertiliser prices last year, adding to a surge in food prices. The company says it's making day-to-day evaluations on how to maintain supply and that it is too early to say if more shutdowns may be on the cards. It acknowledges it has a "very strong obligation" to keep production running at what it describes as a critical point. But Yara's boss says the world must, in the long-term, reduce its dependency on Russia for global food production. "On the one hand, we're trying to keep fertiliser flowing to the farmers to keep up the agricultural yields. "At the same time... there has to be a strong reaction. We condemn the Russian military invasion of Ukraine so this is a dilemma and one that frankly is very difficult." Climate change and growing populations had already been adding to the challenges the global food production system faces - all before the pandemic started. The Yara International chief executive describes the war as "a catastrophe on top of a catastrophe", highlighting just how vulnerable to shocks the global food supply chain now is. It will increase food insecurity in poorer countries, he adds. "We have to keep in mind that in the last two years, there's been an increase of 100 million more people that go to bed hungry... so for this to come on top of it is really worrying." __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

13-03-22, 10:56	#2
Ladybbird Join Date: Feb 2011 Posts: 47,620 Thanks: 27,641 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	re: UK Gets Help From Saudi as OIL Price Soars-Saudi Aramco Boosts Production Putins' WAR = Pasta/Bread/Beer/Milk, and Potato Prices Set to Rise by 50%, Suppliers WARN The cost of essential foods such as bread, potatoes and pasta is likely to rise by between 4% and 50% over the coming months, according to farmers, importers and manufacturers AP. 13 MAR 2022. Foods suppliers have warned of price rises on staples such as bread, potatoes and pasta, in response to inflation and supply pressures linked to the war in Ukraine. Farmers, importers and manufacturers have warned of increases of 4% and 50%. It comes after the wholesale cost of wheat rose by almost 50% in two weeks. Ukraine and Russia together supply nearly a third of the world's wheat exports. Jason Bull, director of Eurostar Commodities, which supplies flour to many food producers, said: "We are in unprecedented times. We've had Brexit, Covid, global warming and now a war. Suppliers are cancelling contracts with immediate effect and putting in big increases. Freight costs are going up while stock is at sea. "We have real worries about food price inflation and food insecurity. The situation was not good before the war and now it's worse." __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

21-03-22, 12:43	#3
Ladybbird Join Date: Feb 2011 Posts: 47,620 Thanks: 27,641 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	Re: UK Gets Help From Saudi as OIL Price Soars-Saudi Aramco Boosts Production UK Boris Johnson Asks Saudi For Help -Gets Good Response-Saudi Aramco Ramps up to Boost Production *UK PM Talked About OIL & Russia to Saudi / UAE as OIL Price Soars* UK Chancellor and PM Signal Fuel Duty CUT of 5p per Litre US Seeks Help From Saudi Arabia to Ease Oil Prices -Gets Cold Response-NO *Oil Prices Plummet as Russia Seeks to Revive Nuclear Deal With Iran* BBC 21 MAR 2022 The state-owned oil giant Saudi Aramco plans to sharply increase the amount it invests in energy production, The firm aims to boost output significantly over the next five years. Energy prices have soared in recent months as demand has outstripped supplies of oil and gas. The war in Ukraine and a reluctance to rely on Russia for energy has added to the pressure to find additional sources of energy. Saudi Aramco's move is likely to be welcomed by political leaders worried about the impact of high energy prices, although the boost to investment is aimed at increasing output over the course of the next five to eight years. Last week prime minister Boris Johnson visited Saudi Arabia to try to persuade the country to release more oil into world markets in the short term. Saudi Arabia is the largest producer in the oil cartel Opec (Organization of the Petroleum Exporting Countries) and by raising production it could help to reduce energy prices which are currently at 14-year highs. However, the country has been condemned for a range of human rights abuses: its involvement in the conflict in neighbouring Yemen, the murder in 2018 of journalist Jamal Khashoggi, for jailing dissidents and for widespread use of capital punishment. The chancellor, Rishi Sunak, said the prime minister was "absolutely right" to engage with Saudi Arabia over increasing energy supplies. "It would be wrong if we weren't exploring all the avenues we could to bring cheaper energy and more secure energy to people in this country," Rishi Sunak told the BBC. The prime minister had "constructive dialogue" about human rights abuses during the visit, he said. Energy markets have been volatile during the pandemic, as sudden changes in economic activity have influenced both supply and demand. *But a reopening in many countries led to a sharp rise in energy prices in 2021. That boosted revenues at all the large energy generating companies.* Saudi Aramco said it planned to increase its capital expenditure to $45-$50bn this year with further increases until the middle of the decade. Last year capital expenditure was $31.9bn. It would raise its crude oil "maximum sustainable capacity" to 13 million barrels a day by 2027, the company said. It also aims to increase gas production by more than 50% by 2030. Saudi Arabia produced just over 10 million barrels of oil per day in February. The oil company more-than doubled its net profit to $110bn in 2021, up from $49bn in 2020. The price of a barrel of Brent crude oil increased by around 50% in 2021 and, with energy prices remaining high, analysts expect profit to increase further in 2022. Saudi Aramco said it planned to develop a significant hydrogen export capability and become a global leader in carbon capture and storage technology. RELATED; Energy giant ExxonMobil and aviation group Boeing joined the growing list of companies to take action over Russia's invasion of Ukraine. ExxonMobil said it will exit a multi-billion dollar joint venture with Russian state-owned company Rosneft. It is the latest oil producer to cut business ties with the country, after similar moves by BP, Shell and Equinor. ExxonMobil currently operates and holds a stake in the Sakhalin Island oil and gas fields, alongside Rosneft and companies from Japan and India. It said it would now exit its Russian oil and gas operations, which have been valued at more than $4bn (£3bn), and halt new investments in the country. Last year, ExxonMobil employed more than 1,000 people across the country, with offices in Moscow, St. Petersburg, Yekaterinburg and Yuzhno-Sakhalinst, according to its website. Russia is one of the world's biggest energy producers. The announcement came as Brent crude - the international benchmark for oil prices - hit $110 a barrel, marking the highest level seen in more than seven years. Rival energy giant BP said it would offload its 19.75% stake in Rosneft after Russia's "act of aggression in Ukraine". On the same day, Shell announced that it would end all of its joint ventures with the Russian energy company Gazprom. This includes quitting the flagship Sakhalin II facility, which is partly owned and operated by Gazprom. Norwegian oil producer Equinor also said it would start the process of divesting from its joint ventures in Russia.,, Also, aviation giant Boeing said it had suspended "major operations" in Moscow and temporarily closed its office in Kyiv. "We are also suspending parts, maintenance and technical support services for Russian airlines," a Boeing spokesperson told the BBC. Canada imported more than $250 million worth of refined petroleum products from Russia in 2021. US Seeks Help From Saudi Arabia to Ease Oil Prices -Gets Cold Response Oil Prices Plummet as Russia Seeks to Revive Nuclear Deal With Iran __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

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