The Iran war could send food prices surging globally, as fertilizer and other prices skyrocket.
The effective closure of the Strait of Hormuz — through which a third of the world’s fertilizer travels — is driving up the costs of energy, transport, and planting essentials such as sulphur, potentially resulting in intensified “cost-of-living pressures, particularly for the most vulnerable,” a new UN report warned.
Farmers in China are worried that a shortfall of ingredients necessary to make fertilizer comes just as the spring planting season gets underway, while those in the US are pushing for a bailout: “If you’re growing something in the ground right now, you’re losing money,” one Republican senator acknowledged.
