All Posts from May 20, 2020

India, Bangladesh Prepare for Cyclone

Authorities along India’s East Coast and neighboring Bangladesh have evacuated millions and shut factories as the biggest cyclonic storm in two decades is set to make a landfall later today, according to Bloomberg. Amphan is forecast to be the worst storm over the Bay of Bengal since the 1999 super cyclone that hit the eastern Indian state of Odisha. India’s worst-ever cyclone killed about 10,000 people in the state.

Amphan, now equivalent of a category 3 hurricane after weakening overnight, is moving towards West Bengal in India and Khepupara in Bangladesh, according to the India Meteorological Department. Indian Farmers Fertiliser Cooperative Ltd. has shut phosphate production and shipments from its Paradip plant.

The cyclone is expected to carry sustained wind speed of 170 to 180 kilometers (106-112 miles) per hour, which could rise as high as 200 kilometers per hour. Bangladesh is evacuating 2.2 million people from coastal districts. In India’s West Bengal, almost 300,000 people have been moved into relief centers.

Significant Drop Seen in NOLA Urea

Early week trades at NOLA for prompt granular urea are being put in the $180-$197/st FOB range, according to sources, down from the week-ago $196-$220/st FOB.

Yara Moves to Regional Organizational Structure

Yara International ASA, Oslo, has announced it will move from a segment structure to a regional organizational structure, effective 1 June 2020. The group’s operations will comprise four profit centers, of which three are regional units and a fourth unit for global production plants and operational excellence including health and safety. In addition, Yara will establish a new Farming Solutions global function. 

“The new structure will sharpen our customer focus in each region, while also driving the transformation of our business for the future. It is a further milestone in executing our crop nutrition strategy as an integrated food value chain player,” said Yara International President and CEO, Svein Tore Holsether. 

The three regional units will have production, supply chain and commercial operations, while the fourth unit for global production plants and operational excellence will operate Yara’s largest production plants at Porsgrunn and Sluiskil. 

Tove Andersen will be head the Europe unit, Chrystel Monthean Africa & Asia, Lair Hanzen Americas and Pal Hestad will lead Global Plants & Operational Excellence. Terje Knutsen, will take up the position of EVP Farming Solutions.