Experience is knowing a lot of things you shouldn’t do.” William S. Knudsen

Fertilizer Disruptions: A Greater Threat than Oil Shocks

Global fertilizer supplies are facing acute disruptions due to escalating tensions in the Strait of Hormuz, through which an estimated 20–30% of global fertilizer trade passes (including urea and sulfur, essential for phosphate production). These disruptions surpass the impact of rising oil prices, as fertilizers are a direct input for agricultural production, whereas oil affects agriculture indirectly through logistics and energy costs.