Strait of Hormuz Closure Impacts Global Food Prices
The closure of the Strait of Hormuz due to ongoing conflicts has led to significant disruptions in global fertilizer supply chains, contributing to a spike in crop prices. The International Food Policy Research Institute (IFPRI) warns of an 'input crisis' that could escalate into a global food crisis, particularly affecting poorer nations. The blockade has halted 3.9 million tonnes of urea exports, a key fertilizer component, exacerbating the volatility in fertilizer markets. This situation is compounded by renewed conflicts in the Black Sea, further disrupting grain trades and impacting global food security. 
