Everyone talks about oil, no one talks about fertilizer

While the world focuses on oil prices, an article in 'Zman Yisrael' warns of neglect of the global fertilizer crisis. The Gulf region exports nearly a third of traded fertilizers, and disruptions in the Strait of Hormuz threaten food supplies. The UN warns that without an agreement within weeks, countries in Asia and Africa will miss the planting season, potentially driving grain prices up by 81% and fueling inflation.

Over the past six months, global attention has focused on oil prices as a measure of success in managing the conflict with Iran, but an article in 'Zman Yisrael' warns that a critical component has been forgotten: fertilizer. The Persian Gulf region exports nearly a third of the world's traded fertilizers, and since the disruptions in the Strait of Hormuz, fears of a global shortage have grown. According to the International Food Policy Research Institute, fertilizer shipments have remained largely stalled more than six months after the start of the conflict, and global trade in nitrogen and phosphorus fertilizers fell by about 9% in the first half of the year. UN Under-Secretary-General Jorge Moreira da Silva warned that if a rescue plan is not reached within weeks, countries in Asia and Africa will miss the planting season. The solution, according to UN officials, requires ensuring safe passage for just five fertilizer ships per day. A sustained disruption could drive global grain prices up by 81% and reignite inflation in the US. The article emphasizes that oil drives the economy, but fertilizer enables food production.

Everyone talks about oil, no one talks about fertilizer