Global fertilizer prices are rising: 25% of nitrogen trade flows through the Strait of Hormuz. Its closure has seen Urea prices jump 15% in just the last few days.

This comes just in time for Spring planting, meaning farmers (who are already going bankrupt at a record pace) will literally have to give up the farm, accelerating consolidation into the hands of technocrats like Gates (already the #1 individual holder of US farmland).

And, of course, it translates to higher food prices. Factor in also the cost of fuel for farm operations and product transport...and this is a full-chain gut punch for food security.

Grow those gardens!

- @iceagefarmer

source: https://www.agweb.com/news/conflict-iran-ripples-through-global-fertilizer-markets-raises-prices-even-higher

The Strait of Hormuz shipping disruption has thrown global grain trade into crisis this week as major lines suspend transit following the outbreak of open conflict in West Asia, stranding vital shipments of rice, wheat, and barley destined for the Gulf region.

With severe implications for perishable and specialized agricultural cargo, CMA CGM has also halted all reefer (refrigerated container) bookings to and from a wide range of West Asian and Red Sea countries, including Iraq, Bahrain, Kuwait, UAE, Saudi Arabia, Jordan, and Egypt. This will directly impact shipments of temperature-sensitive goods like certain seeds, specialized ingredients, and processed foods.

https://millingandgrain.com/strait-of-hormuz-shipping-disruption-grain/