The plant will double capacity for the company’s YaraVita products and expand its footprint in the specialty crop nutrition business, one of the fastest-growing agriculture markets, according to Yara. Startup is expected by the end of 2025 and virtually all the plant’s output will be exported worldwide.

Yara said sales of its YaraVita specialty crop nutrition products and biostimulants have grown fivefold in the past 20 years.

“Specialty crop nutrition products are complementary to traditional mineral fertilizers and are crucial for achieving balanced crop nutrition. Although only needed in small amounts, they can make a big difference for farmers and are critical to ensure a lower carbon footprint for food production by increasing yield per unit of land,” said Rejane Souza, Yara International’s senior vice president of global innovation.

Indian consultancy MarketsandMarkets predicts that the market for global specialty fertilizers will grow at a compound annual growth rate (CAGR) of 6.8% between 2022 and 2027. DunhamTrimmer – a US-based market research company focused on the biological agricultural sector – estimates that the CAGR for biostimulants is even higher, at more than 12% for the period 2018 to 2030.

Author: Elaine Burridge, Freelance Journalist