[defrost]

Another PoV is not the profit from producing home ground fertiliser but the risk of not having fertiliser at "just the right time".

Locally (Western Australia) there are some 8.3 (ish) million hectares of grain planted annually; that's a high spike demand for both fertiliser and fuel that can be interrupted by supply chain issues (eg: war) leading to extensive losses wrt expected harvests.

[jimnotgym]

Oh I'm in that camp. I live in a country that didn't produce its own fertilizer. Sounds like a terrific risk to me