Iran Conflict Sparks Global Rush For Critical Fertilizers
A third of global fertilizer supply passes through the Strait of Hormuz, while gas from the region is crucial to production of nutrients for global agriculture.
Chet Edinger had already bought most of the fertilizer for his corn and soybean farm last year, but on Monday morning, with war breaking out in the Middle East, he rushed to secure a last few truckloads of urea for the tens of thousands of acres he cultivates near Mitchell, South Dakota.
“We grabbed what we needed,” he said by phone. It cost 22% more than late last year — “the highest price I ever had to pay.”