Oil and gas are not the only critical commodities shut in by the Iran war and the effective closure of the Strait of Hormuz. Gulf countries are also major producers of fertilizers and fertilizer inputs, including sulfur (roughly 50 percent of global production), urea (more than 30 percent) and ammonia (roughly 25 percent), in addition […]
Hormuz and the Slow-Burn Fertilizer Supply Shock
Stockpiles and seasonal cycles will contain food inflation, but the reprieve may be short-lived.
