US EditionFarmers Warned to Plan Ahead as Fuel and Fertiliser Prices Surge
Conflict-driven oil price rises and Middle East supply disruptions have pushed fertilizer costs up 35%, causing significant concern for farmers globally, including in New Zealand.
- The Middle East conflict has forced disruptions to shipping routes including the Strait of Hormuz and fertilizer production, triggering volatility in global fertilizer markets and pushing up oil prices.
- Supply chokepoints including the Strait of Hormuz have curtailed flows, threatening about one-third of fertilizer trade as QatarEnergy temporarily halted urea and ammonia production.
- Market data show fertilizer spot prices up to 35 per cent higher, with cargoes rerouted to the United States and India confirming more than 500,000 tonnes of urea scheduled for delivery before March ends.
- Federated Farmers' David Birkett warned arable farmers face higher fertilizer and diesel costs, with a combine using about a thousand litres of fuel a day facing roughly $2,000 to $4,000 extra daily if fuel rises by $1 or 50 cents.
- For farmers and fertilizer buyers worldwide, the coming weeks will be critical as Southeast Asia buyers turn to Indonesia and Malaysia amid rising offers, while potash and muriate of potash remain steady.
30 Articles
30 Articles
30% of the world's nitrogenous fertilizers are transported through the Strait of Ormuz, which is closed through Lebanon. Farmers in Occitanie need to drive their cereal crops. Farmers are worried about the shortage and the prices.
Ontario Farmer
Middle East conflict sends shock waves through global fertilizer markets
Global fertilizer markets are entering another period of volatility as escalating conflict in the Middle East disrupts production, trade routes, and shipping logistics. The uncertainty is spreading across nitrogen, phosphate, sulphur and ammonia markets just as farmers in several regions prepare for their fertilizer application seasons.
Manitoba farmers feel surge of fertilizer prices amid Middle East conflict
Manitoba farmers on the verge of spring planting are feeling the impacts of fertilizer prices rising globally. Those costs are because of the U.S.-Israeli war with Iran, which is blocking key exports through the Strait of Hormuz.
Coverage Details
Bias Distribution
- 75% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
