Hormuz blockade plunges global fertiliser trade to lowest since 2019

The near-total blockade of the Strait of Hormuz has severely disrupted global fertilizer trade, bringing it to its lowest level since 2019. Increased geopolitical tensions between the US and Iran have reduced maritime traffic, particularly impacting LNG and oil shipments. The OECD predicts that shipments could be delayed by approximately six weeks until normal traffic resumes.