ELZUBI on Bloomberg Middle East, Hormuz Ignites Food Prices

Sharp Surge in Food and Fertilizer Prices (Estimated Figures):
1. Food prices: Wheat +115%, Corn +100%, FAO Index +46%.
2. Fertilizer prices: Urea +170%, Phosphate +128%.
3. Regional importance: 25–30% of global fertilizer trade passes through Hormuz.
4. Impacted: 340 million people in acute food insecurity, with 70–80 million added in just one month.
5. Warnings: Upcoming global crop yields expected to drop by 10–15% due to fertilizer shortages.

ELZUBI on Al-Mamlaka: Global Markets on the Brink of Famine

ELZUBI on Al-Mamlaka: Global Markets on the Brink of Famine
Fertilizer Production and Trade:
• Iran produces around 4.5–5 million tons of urea annually.
• Gulf countries produce 18 million tons of ammonia and urea per year, accounting for 12% of global trade.
• Between 25–30% of global ammonia and urea trade passes through the Strait of Hormuz.
• Daily, 15–20 chemical and fertilizer tankers cross the strait.
• With the war ongoing, tanker traffic has dropped by 70% due to attacks and rising insurance risks.
• Insurance premiums on fertilizer shipments surged from 0.1% of cargo value to 7–10%, adding $60–100 per ton.