7 Naphtha 2,348 2,934 587 Ammonia 64 132 69 Feedstock cost 8,269 10,819 2,550 Electricity & water 1,039 2,053 1,014 Total 9,309 12,872 3,564 Source: IHS Chemical, BofA Merrill Lynch Global Research. US spot refers to natural gas prices of US$2.6/mn BTU. The US$2.5bn feedstock price rise could directly accrue t