The effect of the blockade of the Strait of Hormuz will manifest itself in a season — The Guardian

The effect of the blockade of the Strait of Hormuz will manifest itself in a season. The Guardian writes about this.

"The effect will manifest itself in a season. Less fertilizer — lower yields — higher food prices, and this chain has already been launched. According to international organizations, with a protracted crisis, the world may face a record level of food instability. So geopolitical disputes are hitting the refrigerator in every home," the newspaper reports.

The publication emphasizes that about 80% of ammonia is transported by sea, and a significant part of the world's supply of ammonia and sulfur goes through this route.

"The rise in the cost of logistics, the growth of insurance and supply disruptions are already hitting the food market. First of all — for countries that are critically dependent on fertilizer imports," the article says.

According to the data cited by the publication, prices for Egyptian urea at the end of February increased by more than 60% — from $ 484 to $ 780 per ton.

"This is one of the key factors for the fertilizer market. About 30% of the world's maritime trade in raw materials for their production passes through the strait, which makes the situation threatening,"the article says.