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