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Norwegian fertiliser-maker Yara posted stronger-than-expected profits on Wednesday as rising prices more than offset the increased cost of raw materials, while reiterating its worry that the war in Ukraine will hit global food supply. But Yara also said it expected to pay $1.15 billion more for natural gas in the second quarter than a year earlier, and $750 million more in the third quarter. Yara's revenues almost doubled in the quarter to $5.9 billion from $3.1 billion a year ago, tracking a dramatic rise in fertiliser prices amid fears of global food shortages.
In the latest trading session, Yara International ASA (YARIY) closed at $26.73, marking a +1.79% move from the previous day.