Yara International announced today that it will build a new global production plant for specialty crop nutrition products and biostimulants designed to increase yields and improve quality. The plant will be one of the largest in the world for these products.
The new plant will allow Yara to increase its footprint in this specialty crop nutrition business. These products are formulated to meet the specific needs of crops throughout the growing season and to help them increase their resilience to climate change.
The plant, to be built close to the company’s existing site in Yorkshire, UK, will allow Yara to double the capacity of its YaraVita products when the facility is expected to be operational by the end of 2025 and further expand production capacity if needed. Virtually all the output from the plant will be exported to markets around the world.
“Our specialty crop nutrition products help farmers increase yields and quality without increasing land use. That not only benefits farmers but is also good for the planet,” says Mónica Andrés Enríquez, Executive Vice President for Europe at Yara International.
“It’s no wonder that this market is growing exponentially. Amid today’s food security and climate change challenges, it’s more important than ever to feed the world with nutritious food while also protecting the planet,” she adds.
The market for global specialty fertilizers is projected to grow at compounded annual growth rate (CAGR) of 6.8% between 2022 and 2027, according to MarketsandMarkets. The CAGR for biostimulants is growing at an even higher rate – more than 12% – DunhamTrimmer estimates, referring to the period from 2018 to 2030.
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