Despite the current ceasefire, there are key elements of the Iran war impacting fertiliser economics that will not reverse quickly and are likely to create a permanent change. We see prices of fossil derived fertiliser remaining above historic levels and we see more countries paying a premium for locally sourced green fertiliser. We think this boosts ATOME’s green fertiliser model and, with Final Investment Decision nearing at Villeta, highlights the expansion potential for ATOME’s model.
