Poorer nations face fertilizer hit as prices soar

Soaring fertilizer prices are taking a toll on poorer nations. Around 30% of global fertilizer supplies flowed through the Strait of Hormuz before the start of the Iran war, with many poorer nations — which import the majority of their needs — left badly exposed.

The shortfall has forced farmers in Brazil to cut back on fertilizer purchases, leaving many with diminishing returns or even losses, Reuters reported; India’s fertilizer subsidy spending will be double the government’s budget forecast, according to The Indian Express.

Shortfalls elsewhere have raised fears that food producers may miss their planting season altogether, with some experts warning of ensuing humanitarian crises. “The next food crisis is already in motion,” a recent World Economic Forum report said.