The Government will hold crisis talks with industry bosses today after soaring gas prices and a lack of carbon dioxide sparked fears of widespread food shortages.
High global demand, maintenance issues and lower solar and wind energy output have all been blamed on the increased cost of wholesale gas, which in turn has forced much of the UK's commercial production of CO2 to stop.
Two of England's biggest fertiliser plants - which use the gas to produce ammonium nitrate, which is then used by farmers for their crops - have shut down, leaving bosses concerned over the potential consequences for family essentials.
The food industry describes carbon dioxide as being fundamental to producing and transporting supermarket staples like bread and meat, as well as beer and fizzy drinks.
Some fear businesses have less than two weeks before their stocks of the gas begin to run out, with one boss describing the crisis as a 'black swan type of event', adding that ministers and supermarket giants were only now appreciating the knock-on effects on agriculture and production.
Two of England's biggest fertiliser plants - which use carbon dioxide to produce ammonium nitrate, which is then used by farmers for their crops - have shut down, leaving bosses concerned over the potential consequences for family essentials
The food industry describes carbon dioxide as being fundamental to producing and transporting supermarket staples like bread and meat, as well as beer and fizzy drinks
Some fear businesses have less than two weeks before their stocks of the gas begin to run out, with one boss describing the crisis as a 'black swan type of event', adding that ministers and supermarket giants were only now appreciating the knock-on effects on agriculture and production
Nick Allen, chief executive of the British Meat Processing Association, told the Times: 'This could be the straw that broke the camel's back.
'It is potentially a massive challenge for the food industry when we are already facing huge issues.'
Meanwhile, Business Secretary Kwasi Kwarteng will talk with chief executives from gas producers, suppliers and regulator Ofgem today to discuss the extent of the impact of the surging prices.
Government sources have reportedly told the BBC there is no threat to the UK's gas supplies, but potential impacts on small energy companies most at risk of exposure are being monitored.
A Government spokesperson told the broadcaster: 'The UK benefits from having access to highly diverse sources of gas supply to ensure households, businesses and heavy industry get the energy they need at a fair price.
'We are monitoring this situation closely and are in regular contact with the food and farming organisations and industry, to help them manage the current situation.'
It comes after Russia was last night accused of rigging the prices of gas to damage Britain's economic recovery from Covid.
The country's state-owned energy firm, Gazprom, is now facing an investigation into the rise in price.
The country's state-owned energy firm, Gazprom, is now facing an investigation into the rise in price. Lawmakers said they were suspicious of the company's 'effort to pressure' Europe to agree a fast launch to its Nord Stream 2 gas pipeline (pictured)
And more than 40 MEPs last night signed a letter to the company in which they accused it of
