West Africa to Feel Hit from War’s Fertilizer Shock, ETG Says
Countries in Asia, Africa, and Latin America are particularly exposed to fertilizer shortages.
Source: Bloomberg
West Africa’s cocoa and cotton farmers will take the greatest hit as the war in Iran leads to a fertilizer shock across the continent, according to ETG, one of the region’s top agricultural commodity traders.
The Middle East conflict has all but closed off the Strait of Hormuz — a vital waterway that connects the Persian Gulf to the open ocean. That’s cut off supplies from a region that is a major production and shipping hub for fertilizers, sending prices soaring as farmers around the world rush to secure supplies.