UAE’s Fertiglobe Says ‘Toppy’ Nitrogen Fertilizer Prices Have Room to Rise

Nitrogen fertilizer prices, almost double what they were before the Iran war, may climb further as vital supplies remain locked up in the Persian Gulf, according to one of the world’s biggest exporters of the crop nutrient.

“Prices are already quite ‘toppy,’ but if the situation continues, they could move higher,” Ahmed El-Hoshy, chief executive officer of Abu Dhabi’s Fertiglobe Plc, said in an interview. “It’s a very challenging situation for the farmers’ economics, and it could eventually translate into higher grain and food prices.”