Yara International ASA announced on May 23 that it will build a $150 million global production plant for specialty crop nutrition products and biostimulants near its existing site at Pocklington in Yorkshire, UK. The company said it will be one of the largest facilities in the world for these products.
“The size of the investment is around US$150 million, which includes the purchase of land, the construction of the buildings, and the procurement of machinery and equipment,” said David Tomkinson, Operations Director and Plant Manager at Yara Pocklington. “This is a considerable investment for this sector.”
Yara said the new plant will allow it to increase its footprint in this specialty crop nutrition business, one of the fastest growing markets in agriculture. It said sales of YaraVita specialty crop nutrition products and biostimulants have grown five-fold in the last 20 years.
The new plant, which is expected to be operational by the end of 2025, will allow Yara to double the capacity of its YaraVita products 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,” said Mónica Andrés Enríquez, Executive Vice President for Europe at Yara International. “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.”
Yara said around 3,000 trials have been conducted to test the quality of YaraVita products. The trials have resulted in higher yields, typically increasing by 3%-8%, and as much as 30%.
“If one nutrient is lacking or under stress, crop growth, yield, and quality can be reduced. 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, Senior Vice President of Global Innovation at Yara International.
Yara is already one of the largest producers of specialty crop nutrition products in Europe. It said it 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, allowing it to offer a comprehensive range of crop nutrition solutions combined with agronomic advice and digital tools.
The market for global specialty fertilizers is projected to grow at compounded annual growth rate (CAGR) of 6.8% between 2022-2027, 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.