US EditionIran Crisis to Hit Prices of Bread, Beer, Drugs and Online Shopping
US strikes on Iran cut off 45% of global fertiliser supply and cause shipping surcharges up to $4,000 per container, driving price rises across Australian farming and consumer goods.
- Rising freight costs threaten retail prices as Australian consumers face higher bread and beer costs, while postal services and courier companies slow and increase charges for pharmaceuticals and online orders.
- On Tuesday a senior Iranian official said the Strait of Hormuz was closed and Iran would fire on any ship trying to pass, disrupting shipping lanes handling about 20% of oil and seaborne gas.
- Shipping companies have added steep surcharges of $US2000–$US4000, more than 150 vessels are anchored, three damaged by drone strikes, and insurance cover has been cancelled.
- Hamish McIntyre, National Farmers Federation president, said grain growers will be squeezed and urged more local fertiliser production as the Iran war shows the need for self-sufficiency.
- Qatar's halt to LNG exports is tightening gas markets, risking substantially higher fertiliser prices as the Middle East produces half the world’s urea.
14 Articles
14 Articles
Sydney Morning Herald
The AgeIran crisis to hit prices of bread, beer, drugs and online shopping
Farmers profits will be slashed and price hikes for bread and beer will flow to consumers and the Iran war derails preparations for the winter cropping season.
After the blockade of the road of Hormus and the stopped LNG deliveries from Qatar, prices for oil and gas rise. How realistic are bottlenecks? And what would a longer war mean for the economy? By T. Bücker.
Zeit Online
Here you can find information on the topic "Prices and business cycle". Read now "What the war means for consumers and the economy".
Tanking and heating are becoming more expensive, stocks are declining, and the oil price could burden the economy.There are also hopeful voices.The Iran war also has consequences for German consumers and the economy.Some directly, others are likely to become noticeable over time.And not all of them are negative.An overview.At the petrol station it becomes more expensiveThe consequences are immediate: From Friday to Monday fuel has become more ex…
Berlin – The escalation in the Middle East has an impact on more and more global trade flows! This threatens holidays, gasoline, gas and various forms of...
The price of gas rose rapidly after the outbreak of the Iran war. What does this mean for companies, politicians and consumers? The most important questions and answers
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