Mideast Conflict Is Latest Threat to Global Fertilizer Supplies
Brazil, which produces two corn harvests a year, imports more than 90% of its needed urea.
Photographer: Victor Moriyama/BloombergRecent tensions in the Middle East are the latest reminder of the risks to crucial fertilizer supplies from the embattled region.
Almost half of the world’s shipments of urea, a nitrogen-based fertilizer relied on by farmers to grow grains and other key crops, come from the Mideast, Rabobank senior analyst Samuel Taylor said in a report this week. The latest escalation of violence between Israel and Iran had raised fears over a possible closure of the Strait of Hormuz, a critical export channel.