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Yara International is a great, Norwegian fertilizer play, and one that's yielded good returns in this market. I'm quite long Yara, at around 2.3% of my TPV.
The upside for Yara, however, is somewhat muted, and there are reasons for this.
In this article, I'll go through the limitations to this great business, and why I'm a bit more cautious today despite great macro.