The Strait of Hormuz blockade is causing a slow-moving food crisis
Briefly

The Strait of Hormuz blockade is causing a slow-moving food crisis
""This is a slow-moving food crisis in the making," David Ortega, an agricultural economist and professor at Michigan State University, said. According to the International Fresh Produce Association, the fertilizer shock could cause everything from a 1- to 3-percent increase in grocery store food prices to fresh food shortages around the world."
"Roughly half of fertilizer feedstock exports come through the Strait. And about roughly half of the world's food production relies on fertilizer, according to Veronica Nigh, chief economist at The Fertilizer Institute. It's vital to the food supply both in the US and around the globe."
Farmers are under pressure this spring due to the closure of the Strait of Hormuz, which is critical for fertilizer exports. Approximately half of fertilizer feedstock exports pass through this narrow channel, essential for global food production. Many US farmers did not secure fertilizer prices last fall and are now facing rising costs. The ongoing conflict has led to a potential increase in grocery prices and food shortages. A ceasefire was briefly agreed upon, but tensions remain high, affecting shipping traffic.
Read at The Verge
Unable to calculate read time
[
|
]