The OilPrice.com article examines how the ongoing closure of the Strait of Hormuz, combined with renewed disruptions to Black Sea grain exports, is driving up global food prices and increasing food security risks.
The article draws on earlier IFPRI analysis by Rob Vos, “referring to the unfolding situation in fertilizer supply chains as an “input crisis” that could soon develop into a full-blown food crisis, especially in poor countries.”
“Most production facilities in the region continue to operate at reduced rates to prevent excessive stockpiling,” IFPRI reports. “While urea can generally be stored for several months, high temperatures and moisture can damage its quality. The risk of substantial fertilizer supply shortages is rising as the conflict prolongs and the Strait of Hormuz stays closed.”
Read the article (also republished by Yahoo! Finance)