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Fertilizer prices are rising after Iranian attacks on Gulf countries and the closure of the Strait of Hormuz disrupted fertilizer production and shipping. Qatar's Ras Laffan nitrogen plant declared force majeure, and urea reportedly reached $584.50 per ton, up nearly 30% in a few days.
The Gulf supplies a large share of global urea and nitrogen trade, so the disruption tightens supply and lifts fertilizer costs for farmers, with knock-on effects for crop prices.
ekathimerini.comΝikos FilippidisFeb 24, 2020After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
