Canadian farmers are seeing fertilizer price spikes that could impact food production as the Iran war grinds on. Much of the world's fertilizer transits through the Strait of Hormuz, which is now closed to most commercial traffic.
Breakdown
- Fertilizer costs have risen up to 60% for Canadian farmers 15s
- Strait of Hormuz closure disrupts global fertilizer trade 41s
- Even Canadian-made fertilizer is affected by global price surges 1m 4s
- Farmers may have to use less fertilizer if high costs persist 1m 40s
- Reduced fertilizer use could mean lower food production 1m 46s