...e rising cost of gas, some factories in Asia have already been forced to suspend production. - The Middle East plays a key role in the global trade of fertilizers and energy resources: about a third of the global export of urea passes through the Strait of Hormuz. - Against the backdrop of blocked shipping, the price of urea has risen by more than 40% since the beginning of the conflict. - It was also previously noted that about 26% of the global trade in nitrogen fertilizers passes throug...
...h the Strait of Hormuz.
...ted to a shortage of urea, the most common nitrogen fertilizer in the world, writes the Financial Times. - According to the analytical company Kpler, out of 2.1 million tons of urea, almost half did not reach the global market: more than 1.1 million tons of fertilizers are now accumulating in the Persian Gulf amid the escalation of the conflict. - Additional pressure is exerted by rising prices for natural gas, which is used in the production of nitrogen fertilizers from ammonia. Due to th...