Strait of Hormuz closure threatens to impact global fertilizer market — Rystad Energy
The closure of the Strait of Hormuz due to the US and Israeli military operation against Iran threatens to impact the global fertilizer market. About 15% of global ammonia sales and 21% of urea are tied to exporters potentially impacted by the closure, which could lead to food shortages and disrupt supply chains.
The Strait of Hormuz has been closed due to the US and Israeli military operation against Iran. This closure affects global trade in fertilizers and ammonia. Main exporters in the region include Saudi Arabia, Qatar, Kuwait, Bahrain, the UAE, Iran, and Iraq. Logistical problems could impact the ammonia and urea market, leading to negative effects on food prices and supply chains. The closure may cause food shortages and disrupt supply chains. India is the most exposed, importing around 6% to 8% of fertilizer from these Gulf countries.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.