Iran war threatens Asia fertiliser supplies ahead of planting season - Reuters
Iran war threatens Asia fertiliser supplies ahead of planting season Reuters
Coverage by Political Leaning
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Notable Quotes
"Since the conflict started the world has effectively lost three of its largest urea exporters and it has lost three of its largest anhydrous exporters - Qatar, Iran and Saudi Arabia."
— Josh Linville , Academic
"The key assumption here is that this stays short-lived."
— Matthew Biggin , Academic
"It's near certain that China's government will adopt or expand export limits on fertilisers as a result of this conflict."
— Even Rogers Pay , Academic
"We are seeing immediate price volatility but at this stage, it is too early to say how the UK may be impacted in the medium term."
— Tom Bradshaw , Executive
"the U.S. will offer risk insurance to shippers and may deploy its navy to protect vessels if needed."
— Donald Trump , Politician
"We have had prices up about $70 a ton from Friday afternoon trade. It’s been significant."
— Josh Linville , Academic
"Effective IMMEDIATELY, I have ordered the United States Development Finance Corporation (DFC) to provide, at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Gulf."
— Donald Trump , Politician
"According to Bloomberg, soybean oil futures surged as much as 3.9% on March 2 to their highest level in more than two years."
— Nirgunan Tiruchelvam , Other
"The export to Middle East is on hold now."
— Rajib Chakraborty , Executive
"So far there has been no impact. But if the conflict continues, supply of sunflower oil could be disrupted as shipments have to take a detour."
— B V Mehta , Executive
"We weren’t too fast about putting it in here quick, and of course that was a mistake."
— Heath Cutrell , Other
"Fertilizer prices have, I’ve heard, gone up $150 a ton above what they normally are."
— Heath Cutrell , Other
"It’s pretty critical that something needs to change pretty quick."
— Heath Cutrell , Other
Key People
Executive Director of the Solvent Extractors' Association of India.
Analyst at Sydney's Commonwealth Bank.
Former president of the United States known for his aggressive economic policies.
Director at Beijing-based consultancy Trivium China.
Fourth-generation farmer from Chesapeake facing rising fertilizer prices due to the conflict involving Iran.
Fertiliser analyst at StoneX.
Senior commodities analyst at BMI.
Aletheia Capital analyst providing insights on commodity market trends.
President of the Soluble Fertilizer Industry Association.
President of the National Farmers’ Union.
Locations
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<a href="https://news.google.com/rss/articles/CBMiuAFBVV95cUxPMkZGWmw5U0VnQ0h0QmZmSTFmMnBSV0RhMGhncFVUMV9iWFJZakJxYjdkbm0zVUx2T0dvQVhPOWdjQnUyRkRXVDU2cWp4cDdwR3F3Uk9GemNKbWZnejNWZWV0LVJHSnpYelhNTEpDWWk1RWx2LTZyaVhzQmsyd1lfZjRVemEwWFM2WXJoOV9HR2paMVkxSVlnanFOYWZ3VnB5WUNzZWVVejhQT2N0U3R2bHZKYzFxUnVE?oc=5" target="_blank">Iran war threatens Asia fertiliser supplies ahead of planting season</a> <font color="#6f6f6f">Reuters</font>
The closure of the Strait of Hormuz due to the Iran conflict is disrupting global fertiliser supply chains, raising concerns about crop production and food security.
The conflict in the Persian Gulf has severely disrupted global energy trade, causing a 15% rise in Brent crude prices and raising significant energy security concerns for Asia, which heavily relies on imports.
The attack on Iran has led to a significant rise in fertilizer prices, with urea prices in New Orleans increasing by $50-$80 per short ton, raising concerns about supply shortages ahead of spring planting.
The closure of the Strait of Hormuz amid the Iran conflict has triggered a supply chain crisis, affecting fertilizer shortages, vegetable oil price spikes, and increased logistics costs, impacting food manufacturers globally.
The escalating conflict in Iran is disrupting fertilizer supplies, potentially affecting Brazil's grain exports and leading to higher urea prices in the short term.
The escalating conflict in West Asia has led to the shutdown of fertiliser plants and disrupted shipping routes, potentially curbing supplies to key Asian importers like India and China just as farmers prepare for the major cereal planting season.
India faces significant cuts in liquefied natural gas supply to urea producers, threatening fertiliser availability ahead of the crucial kharif planting season, due to disruptions in gas imports from Qatar amid the West Asia conflict.
The escalating conflict involving Iran is already affecting farmers in Hampton Roads, where rising fertilizer prices are creating new financial strain ahead of the spring planting season.
Industry bodies warn that edible oil and fertilizer imports could face supply disruptions and higher costs due to the US-Iran conflict and strained shipping routes.
Rising tensions in West Asia threaten India's $98.7 billion imports, including crude oil, LNG, fertilizers, diamonds, and industrial materials, potentially leading to higher fuel and food prices.
Experts warn that the closure of the Strait of Hormuz due to the Iran conflict could lead to a global food crisis by disrupting the flow of essential fertilisers and liquefied natural gas (LNG) needed for their production.
The escalating conflict in the Middle East has led to the shutdown of fertiliser plants and disrupted shipping routes, potentially impacting supplies to key Asian importers during the major cereal planting season.
The escalating conflict in West Asia has forced fertiliser plants across the region to shut down and disrupted critical shipping routes, raising concerns over supply shortages for major Asian importers just as farmers prepare for the upcoming cereal planting season.
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