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Global Fertiliser Exports Plummet as Hormuz Strait Closure Takes Hold

Global fertiliser exports have been drastically reduced by roughly half, with nitrogen supplement prices skyrocketing by 30 percent, according to Russia’s Security Council.
Deputy Secretary Alexander Venediktov stated that the disruption poses a significant threat to the sowing campaign in Asia, as oil supplies to Europe and Asia already lag 40 percent behind planned levels.
Approximately a third of the world’s seaborne fertiliser trade passes through the Strait of Hormuz.
With no immediate alternative in place, Russia, the world’s largest fertiliser exporter, claims it cannot compensate for the loss.
The UN’s trade body had previously warned that countries such as Sudan, which relies heavily on the waterway for more than half its supply, will be hit the hardest by the shortages.

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