Britain tells its food industry to prepare for CO2 gas price shock

A view of the CF Fertilisers plant in Billingham in England.

Britain has warned its food producers to prepare for a 400% rise in carbon dioxide prices after extending emergency state support to avert a shortage of poultry and meat triggered by soaring costs of wholesale natural gas.

Natural gas prices have spiked this year as economies reopened from Covid-19 lockdowns and high demand for liquefied natural gas in Asia pushed down supplies to Europe, sending shockwaves through industries reliant on the energy source.