Nitrogénművek said the suspension of the energy-intensive production of ammonia – from which nitrogen fertilisers are made – was "unavoidable in the present market environment". It added that gas prices have more than doubled and the security of energy supply is at risk in the extraordinary situation in the European and Hungarian economies resulting from the war in Ukraine.
The company said government restrictions on grain exports impact the agricultural market "in unforeseeable ways" and "further increase risks".
"Nitrogénművek is monitoring the situation and will do everything it can to restart production and reduce the region's import dependency on artificial fertiliser," it added.
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