16:34:48 EDT Tue 24 Mar 2026
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Nutrien Ltd
Symbol NTR
Shares Issued 481,053,327
Close 2026-03-23 C$ 100.00
Market Cap C$ 48,105,332,700
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Globe says Nutrien hears urea production has stalled

2026-03-24 06:53 ET - In the News

The Globe and Mail reports in its Tuesday edition that the global impact of the Iran war is wide. The Globe's Jeffrey Jones and Kate Helmore write that the strikes on natural gas facilities in the Gulf will have ripple effects on fertilizer prices and food availability. Natural gas is a key input in the production of urea, the most widely used nitrogen-based fertilizer, and production across the Middle East and Asia has stalled owing to the LNG shortage. Fertilizer plants also typically do not have storage space, said Veronica Nigh, senior economist the Fertilizer Institute. The Strait of Hormuz represents one-third of fertilizer trade, and has been closed since the start of the war. Besides Qatar, plants in Iran, Saudi Arabia, Bahrain and India have shuttered. Pakistan -- which depends on Qatar for 99 per cent of its LNG imports -- is also likely to stop production as it runs out of locally sourced gas, according to a Scotiabank report. The result will be a surge in demand for urea from states like Pakistan which -- when adequately supplied with LNG -- are self-sufficient. Countries with adequate supplies are responding with export restrictions. Prices for urea have risen about 45 per cent from prewar levels.

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