War in #Iran threatens global food crisis, — FT The main problem is a shortage of urea, the most widely used nitrogen fertilizer in the world, according to the Financial Times. According to the analytics company Kpler, almost half of the 2.1 mil...
...lion tons of urea have not reached the global market: more than 1.1 million tons of fertilizer are currently piling up in the Persian Gulf amid the escalating conflict. Additional pressure is being exerted by rising prices for natural gas, which is used to produce nitrogen fertilizers from ammonia. Due to the rising gas price, some plants 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 global urea exports pass through the Strait of Hormuz. Amid the shipping blockade, the price of urea has risen by more than 40% since the beginning of the conflict. It was also previously noted that approximately 26% of the global nitrogen fertilizer trade passes through the Strait of Hormuz.
