"The Iran conflict is driving up energy and fertilizer costs, raising alarms over a return of food inflation. Farmers are bracing for resource shortages that could drag down harvests."
"The world is naturally fixated on the oil and liquefied natural gas (LNG) tankers missing from the Strait of Hormuz due to the Iran war. After all, the narrow waterway between Iran and Oman carries around a fifth of global crude and LNG exports from the Gulf to the rest of the world.
The more fragile cargo, however, is the fertilizer that helps feed the world and the food imports that keep Arabian Gulf states like the United Arab Emirates, Qatar, Kuwait, Oman, Bahrain and Saudi Arabia alive.
Gulf nations account for 20% of global traded volumes of key fertilizers such as ammonia, phosphates and sulfur, data from the maritime intelligence company Signal Group show.
Nearly half the world's traded urea — the most widely used nitrogen fertilizer — comes from the Gulf region, with Qatar accounting for one-tenth of the global supply, according to Bloomberg Intelligence."
