Fertiliser shortages from Gulf war could cost 10 billion meals weekly - Yara CEO
The CEO of Yara, one of the world's largest fertiliser producers, has warned that supply disruptions caused by the Gulf war could cost up to 10 billion meals per week globally. Svein Tore Holsether said 500,000 tons of nitrogen fertiliser are not being produced due to blocked shipping through the Strait of Hormuz, with reduced crop yields of up to 50% possible without nitrogen fertiliser. The conflict has already driven fertiliser prices up 80%, with the poorest countries set to suffer most in any bidding war for food.