Recents heavy rainfalls in California will be having signifficant impact on crop growth, hence, most likely, farmers there will need more fertilizers.
Rainwater can provide some essential nutrients for crops, and, from other side, took them away from the soil. Therefore, farmers may need to increase the amount of their fertilizer application based on the specific needs of their crops and soil types.
In conclusion, while rainfall can have an impact on crop growth, the amount of fertilizers needed is dependent on many factors and should be assessed and mesured to ensure the sustainability of farming practices.
BASF recently announced of the closing ammonia plant. Russia’s ammonia products are out of US market. The closure of an ammonia supply can have significant implications for the global supply of fertilizers and other ammonia-based products. So, US ammonia producers may benefit in local market by having less competitors. CVR Parners, LP (NYSE: UAN) is one of these companies.
CVR Partners, LP (NYSE: UAN)is a master limited partnership that produces nitrogen fertilizers, including ammonia, urea ammonium nitrate, and ammonia sulfate. The company’s facilities are located in Coffeyville, Kansas; East Dubuque, Illinois; and Port Neal, Iowa. CVR Partners, LP is a subsidiary of CVR Energy, Inc., which is a diversified holding company involved in the petroleum refining and nitrogen fertilizer industries.
CVR Partners, LP’s nitrogen fertilizers are primarily used by farmers in the Midwest to enhance crop yields and improve soil fertility. The company’s facilities use natural gas as a feedstock to produce ammonia and other nitrogen-based products, which are sold to agricultural customers through a network of distributors and retailers.
CVR Partners (NYSE: UAN) had net income of $287 million, or $27.07 per common unit, on net sales of $836 million for full-year 2022, compared to net income of $78 million, or $7.31 per common unit, on net sales of $533 million for full-year 2021. EBITDA for full-year 2022 was $403 million, compared to EBITDA of $213 million for full-year 2021.
CVR Partners announced that the Board declared a fourth quarter 2022 cash distribution of $10.50 per common unit, which will be paid on March 13, 2023, to common unitholders of record as of March 6, 2023.