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Australia Secures Fertiliser Deal with Indonesia
The deal covers about 20% of the season’s remaining fertiliser needs and is the first shipment under new Strategic Reserve powers.
- On Thursday, Prime Minister Anthony Albanese announced Australia secured 250,000 tonnes of urea from Indonesia through a deal involving Incitec Pivot Fertilisers and Pupuk Indonesia, facilitated by both governments.
- Disruptions in the Strait of Hormuz caused by conflict in Iran restricted fertilizer access, making this agreement critical as it provides about 20% of remaining supply needed until October.
- Incitec Pivot President Scott Bowman called the deal a 'critical plank in servicing the needs of Australian farmers,' helping shore up supplies amid global uncertainty and giving farmers greater planting certainty.
- Utilizing new strategic reserve powers, Albanese also secured about 100 million litres of diesel from Brunei and South Korea, addressing broader energy security concerns alongside the fertilizer agreement.
- Reserve Bank Deputy Governor Andrew Hauser warned, 'Inflation is going to be higher, activity is going to be lower, we're going to be poorer,' signaling need for government fiscal support.
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Australia Locks In Fertiliser Supply From Indonesia
Australia has secured thousands of tonnes of urea from Indonesia, helping the country to cope with delivery disruptions caused by the U.S. and Iranian blockades of the Strait of Hormuz. This comes as the Labor government has helped brokered a deal between Incitec Pivot Fertilisers and PT Pupuk Indonesia during Prime Minister Anthony Albanese’s visit to the Southeast Asian nation. The deal is expected to ease pressure on the agricultural sector, …
·New York, United States
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Coverage Details
Total News Sources24
Leaning Left6Leaning Right3Center3Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
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