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Farmers Say Iran War Is Causing a Spike in Fertilizer Prices
Global nitrogen fertilizer prices rose 30-40% due to supply disruptions from the U.S.- and Israel-led offensive, raising concerns for Canadian farmers’ planting costs and future food prices.
- Last week, the average cost of urea rose sharply after the U.S.- and Israel-led offensive against Iran, with market analysts saying the price jump followed initial strikes and supply fears.
- Missile and drone threats have all but halted tanker traffic through the Strait of Hormuz, while attacks on oil and gas facilities have worsened fuel supply concerns for fertilizer plants.
- Benchmark nitrogen prices surged about 30 to 40 per cent in the last week, while oil prices spiked near $120 US a barrel as the war entered its 10th day.
- If the disruption lasts four to six weeks, missed spring shipments to North America could cause major supply issues, especially impacting Eastern Canada more quickly than Western regions.
- Farmers warned that rising input costs could raise expenses, with McKee saying 'We need a lot of fuel to run our equipment', and some worry about future fertilizer needs.
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Bloomberg analyst explains why 'higher food prices will land in time for the US midterms'
President Donald Trump insists that the US economy is doing great, but according to a veteran markets journalist, he is guaranteeing food prices will go up through his recent invasion of Iran — and that will likely happen right in time for the 2026 midterm elections.Bloomberg's John Authers is tracking global fertilizer vulnerability. “Even if the war ends next month, Brazil—the largest fertilizer importer—won't restock in time for the next soyb…
·Washington, United States
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Coverage Details
Total News Sources45
Leaning Left4Leaning Right8Center11Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 17%
C 48%
R 35%
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