Sounding the price klaxon
The war in Ukraine has caused 9,000 civilian deaths and created 5.7 million refugees. If this immense and spiralling human tragedy was not enough, the unprecedented shock inflicted on commodity markets continues to unfold.
The war in Ukraine has caused 9,000 civilian deaths and created 5.7 million refugees. If this immense and spiralling human tragedy was not enough, the unprecedented shock inflicted on commodity markets continues to unfold.
The recently-published IEA Ammonia Technology Roadmap sets out a future pathway for decarbonising the nitrogen industry. New technology options for low-carbon ammonia production are emerging and project activity is on the rise.
On February 27th, in a speech to the Bundestag, Germany’s chancellor Olaf Scholz described the events then unfolding as a “zeitenwende” – a historical turning point. He was speaking of German foreign and security policy, but it seems likely that Russia’s February 24th invasion of Ukraine may end up marking a break with the past in many different ways. Last issue’s Editorial was written when Russia’s ‘special military operation’ was still only a few days old, and the situation was still very fluid. Two months on, and for all of the uncertainties remaining, some glimpses of the way that things are changing are becoming clearer.
The economic conversion of phosphogypsum waste into a valuable product has been pursued for decades. Although phosphogypsum is still generally disposed of as waste, industry attitudes are changing and greater use of phosphogypsum will be expected in a circular economy.
Late February saw the diplomatic crisis between Russia and Ukraine abruptly devolve into all-out war, on a scale not seen in Europe since the collapse of Yugoslavia in the early 1990s – some would argue not since the end of the Second World War. At time of writing, the conflict is still barely two weeks old, but has already produced an unfolding humanitarian catastrophe, and a refugee crisis of massive proportions. But over the medium and longer term, together with the international sanctions that have swiftly followed, it also has the power to deliver an economic shock to commodities markets in particular and the world economy in general that may be as bad if not worse than the crash of 2008-9.
Argus in collaboration with CRU will convene the 2022 Fertilizer Latino Americano conference in Miami, Florida, 21-23 March.
Sulphur is becoming an increasingly vital crop nutrient – due to a combination of lower sulphur deposition from the atmosphere, the increasing prevalence of high-analysis fertilizers and higher cropping intensity.
We look ahead at fertilizer industry prospects for the next 12 months, including the key economic and agricultural drivers likely to shape the market during 2022.
Fertilizer International presents a global round-up of phosphate rock, phosphoric acid and finished phosphates projects.
As a quick glance through the Index of last year’s articles and news items in this issue of the magazine will amply demonstrate, 2021 was a year full of project announcements for low carbon ammonia and methanol projects of all hues; blue, green, turquoise and many other shades besides. Market analysts CRU said in December that they calculated that there have been a total of 124 million t/a of low carbon ammonia projects announced, 80 million t/a of which came in 2021 alone, equivalent to 55% of current ammonia capacity. These range from tentative pilot plants that are fully costed and often with government grants already secured to blue sky visions of vast electrolysis hubs in the deserts of Arabia with timescales towards the end of the decade – it’s often the case that the longer the proposed timescale, the less likely a project is to happen.