Yara International announced it will build a new global production plant for specialty crop nutrition products and biostimulants, one of the largest in the world for these products.
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.
The market for global specialty fertilizers is projected to grow at compounded annual growth rate (CAGR) of 6.8 percent between 2022 and 2027, according to MarketsandMarkets. The CAGR for biostimulants is growing at an even higher rate – more than 12 percent – DunhamTrimmer estimates, referring to the period from 2018 to 2030.
Yara is a global leader in specialty crop nutrition products and one of the biggest producers in Europe. The company has more than 50 years of agronomic expertise in foliar nutrients and biostimulants and more than 100 years of agronomic knowledge in crops and soils.
PHOTO: Impression of new YaraVita plant. Credit: Yara International
Read the MARCH/APRIL 2023 issue of New AG International, free to view here.