Incitec Pivot has announced plans to close one of Australia’s largest fertiliser plants at the end of next year.

The closure of the Gibson Island plant in Brisbane is set to cost 170 jobs.

The company is blaming the closure on the rising cost of natural gas which hit record highs in recent weeks.

The closure is also set to impact farmers who will have to import fertiliser in order to grow crops.

As China and Russia ban the export of some fertilisers, Nationals Senator Matt Canavan is worried about future food security.

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