2 minute read - 24th May 2023
Yara to build new production plant in Yorkshire
Yara International has announced plans to build a new global production plant in Yorkshire for speciality crop nutrition products and biostimulants. The plant will be one of the largest in the world for these products, which the company says are crucial for achieving food security and combatting climate change.
The plant, to be built close to the company’s existing site in Pocklington, will allow Yara to double the capacity of its YaraVita products once the facility is 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 new plant will allow Yara to increase its footprint in the speciality crop nutrition business, one of the fastest growing markets in agriculture. Sales of YaraVita speciality crop nutrition products and biostimulants have grown fivefold in the last 20 years. 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.
Mónica Andrés Enríquez, executive vice president for Europe at Yara International, said: “Our speciality 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. 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.”
The market for global speciality 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.