"The problem is, is we're so strained financially coming into this issue. We have had a couple of record losses the last couple years, so everyone's kind of grabbing at straws anyway, and then to have input prices increase yet again, it just really couldn't happen at a worse time."
"Farmers have complained about costly fertilizer for years, but prices have soared even higher since the U.S. and Israel attacked Iran on Feb. 28, leading to a slowdown in shipping through the Strait of Hormuz, a chokepoint for 20% of the world's oil and natural gas."
"About 15% of fertilizer imports to the U.S. are from the Middle East, and about half the global supply of the key ingredient urea comes from the region, along with 30% of ammonia, according to the American Farm Bureau Federation."
Tennessee farmer Todd Littleton faces a $100,000 fertilizer bill increase this season, a 40% spike attributed to the U.S. and Israel's attack on Iran on February 28, which disrupted shipping through the Strait of Hormuz. This chokepoint handles 20% of global oil and natural gas, affecting fertilizer production costs and exports. Nitrogen-based fertilizer is critical for corn production, the largest U.S. crop used for livestock feed and fuel. The Middle East supplies 15% of U.S. fertilizer imports, 50% of global urea, and 30% of ammonia. Farmers already struggling financially face compounded losses as input costs rise unexpectedly.
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