"The ongoing conflict has sparked the largest oil supply shock in history and sent gasoline prices soaring worldwide, but the fertilizer supply crisis may have a more profound impact."
"Before the war, around one-third of the global fertilizer supply chain passed through the Strait of Hormuz, including half of the world's urea, vital for modern farming."
"The U.S. food and agriculture industry generates $10.4 trillion in value, accounting for about 20% of the economy, and supports over 48 million jobs."
"Corey Rosenbusch, CEO of the Fertilizer Institute, emphasized that the impact of fertilizers is essential to the economy, especially during this supply crisis."
The ongoing war in Iran has led to a blockade of the Strait of Hormuz, disrupting the global fertilizer supply chain, which previously supplied one-third of the world’s fertilizer, including half of its urea. This shortage poses a severe challenge for American farmers at a critical time. The U.S. food and agriculture sector, valued at $10.4 trillion and responsible for over 48 million jobs, is significantly affected by this crisis, highlighting the essential role of fertilizers in the economy.
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