Fertilizer prices surge as war in Middle East enters 2nd week

The Middle East war has entered its second week and is blocking shipments of nitrogen, phosphorus and sulfur through the Strait of Hormuz, causing fertilizer prices to surge. Manitoba farmers face higher input costs, which will compress margins and put upward pressure on food prices and agricultural inflation.

Analysis

The Middle East war has entered its second week and is blocking shipments of nitrogen, phosphorus and sulfur through the Strait of Hormuz, causing fertilizer prices to surge. Manitoba farmers face higher input costs, which will compress margins and put upward pressure on food prices and agricultural inflation.