"A third of the world's fertilisers normally pass through the Strait of Hormuz and the World Trade Organization (WTO) has warned that the blockade there threatens global food security, particularly in Africa and South Asia."
"That's why it makes so much sense to have production in Europe,"
"The company expects an increase in revenue this year of between 10 and 20 percent, but stresses this estimate remains uncertain because of market volatility."
The closure of the Strait of Hormuz has significant implications for global fertilizer supply, as a third of the world's fertilizers pass through this route. In response, a chemical plant in Wittenberg, Germany, is ramping up production to mitigate shortages. The plant, SKW, has a long history dating back to World War I and is now Germany's largest urea producer. The company anticipates a revenue increase of 10 to 20 percent this year, although market volatility poses uncertainties.
Read at The Local Germany
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