Fertilizer price surge due to Hormuz closure to trigger food price spike — Sechin
In first four months of this year alone, fertilizer prices surged by almost 60%, Executive Secretary of presidential commission on fuel and energy sector development strategy and environmental security and Rosneft CEO said
Fertilizer price surge due to Hormuz closure to trigger food price spike — Sechin Fertilizer prices have experienced a significant increase, rising by nearly 60% within the first four months of the year. This surge has been attributed to the closure of the Hormuz strait. The potential consequence of this price hike is a forthcoming spike in global food prices.
- Fertilizer prices increased by almost 60% in the first four months of the year.
- The closure of the Hormuz strait is cited as a contributing factor.
- A surge in fertilizer prices is expected to trigger a spike in food prices.
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