Yara International’s CEO, Svein Tore Holsether, has sounded the alarm on the potential food shortages and rising prices in Africa’s most vulnerable communities due to the ongoing conflict in Iran. Speaking in London, Holsether highlighted the risk of a global auction on fertiliser, which could leave poorer countries, particularly in Africa, struggling to afford essential supplies. “.
The most important thing we can do now is raise the alarm on what we are seeing right now — that there is a risk of a global auction on fertiliser that means it becomes unaffordable for those most vulnerable, “Holsether stated.
The conflict in Iran has already disrupted the flow of fertilizers, crucial for agricultural productivity, particularly in regions like East Africa and South Africa, which heavily rely on imported fertilizers. Yara, a Norwegian multinational with a significant presence in Africa, has observed a surge in urea prices, a key ingredient in fertilizers, by up to 60% to 70% since the US and Israel launched their war on Iran. Holsether also pointed out the challenge of building stockpiles for the upcoming sowing season in sub-Saharan Africa, as well as the need for support from the EU and other global players. “.
We need to treat farming like a business, “he said emphasizing the importance of treating Africa’s farming sector with the same support as seen in Europe.
The situation underscores the interconnectedness of global markets and the potential consequences of regional conflicts on a global scale, with the most vulnerable populations paying the highest price.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: The guardian
Source: Lisa O’Carroll and Matthew Pearce
