FAO states Strait of Hormuz crisis triggers global fertiliser shortage

Disruptions to shipping routes through the Strait of Hormuz are causing a global fertiliser shortage and worsening market conditions, including within the energy sector.

This was stated by Oleg Kobiakov, Director of the Food and Agriculture Organization (FAO) Liaison Office for the Russian Federation, to RIA Novosti on Thursday.

“Disruptions to shipping traffic through the Strait of Haymuz are causing a global fertiliser shortage, resulting in a worsening situation in the fertiliser market and rising energy prices,” said Kobiakov.

The crisis surrounding Iran, he continued, has shifted from a momentary conflict into a prolonged systemic issue.

In mid-June, Iran and the US signed a memorandum of understanding to cease hostilities, although both parties subsequently resumed attacks against one another.

At present, the conflict remains unresolved. The escalation of this conflict has brought shipping traffic through the Strait of Hormuz to a near standstill.

The route serves as a primary supply artery for the global market for crude oil, petroleum products, and liquefied natural gas. As a result, fuel prices have risen in most countries across the world.