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.