Australian farmers are being hit hard by the Middle East conflict, with soaring fertiliser prices threatening food security. The country imports almost 70 percent of the chemical urea, which is used in the product. With winter approaching in the southern hemisphere, farmers are stockpiling what they can ahead of the planting season.
Breakdown
- Fertiliser and fuel prices have surged rapidly for Australian farmers 15s
- Shipping delays in the Strait of Hormuz have caused urea price spikes 37s
- Urea prices have increased by 20 percent, threatening grain production 42s
- Higher costs are expected to raise consumer prices for bread and meat 54s
- Pressures on farmers could impact the entire Australian food industry 1m 14s