# The Hormuz Premium: How the 2026 Fertiliser Shock Rewired Asia's Nitrogen Supply

> Urea prices spiked after the Strait of Hormuz was closed in late February 2026, reaching above $850 a tonne by April, before easing back. Middle East granular urea was quoted near $465 a tonne FOB in late September, but Gulf fertilizer shipments remained largely halted. Asian buyers have been finding new suppliers and adjusting application.

- Date: 2026-11-05 · published 2026-11-05T12:10:45.925Z
- Category: geopolitics · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/81674-the-hormuz-premium-how-the-2026-fertiliser-shock-rewired-asia-s-nitrogen-supply
- Commodities: [Urea](https://feedsoft.ai/c/UREA.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Persistent Hormuz disruption keeps a geopolitical premium in urea and sulphur, raising Asian fertilizer costs and the risk to next season's crop yields and feed-grain output.

## Read by commodity

- CORN: bearish ▼
- UREA: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2022-11-17 | [Russia supply shock forces rethink for chemicals and fertiliser groups](https://feedsoft.ai/events/38625-russia-supply-shock-forces-rethink-for-chemicals-and-fertiliser-groups.md) | -0.4% | -11.8% |
| UREA | 2026-03-10 | [Nitrogen and Phosphate Markets Enter Supply Shock](https://feedsoft.ai/events/20101-nitrogen-and-phosphate-markets-enter-supply-shock.md) | +2.8% | +21.1% |
| UREA | 2026-10-13 | [Fertilizer Prices Stay Volatile as Strait of Hormuz, Russia Disrupt Supply \| Iowa PBS](https://feedsoft.ai/events/17038-fertilizer-prices-stay-volatile-as-strait-of-hormuz-russia-disrupt-supply-iowa.md) | +1.0% | — |
| UREA | 2026-03-05 | [How the Iran war could create a ‘fertiliser shock’ – an often ignored global risk to food prices and farming](https://feedsoft.ai/events/6255-how-the-iran-war-could-create-a-fertiliser-shock-an-often-ignored-global-risk.md) | +3.0% | +20.1% |
| UREA | 2026-05-26 | [Fertilizer Prices Jump 90% As Hormuz Shock Threatens Agricultural Output](https://feedsoft.ai/events/19177-fertilizer-prices-jump-90-as-hormuz-shock-threatens-agricultural-output.md) | -19.8% | -31.4% |
| CORN | 2026-01-26 | [Fertilizer Prices Stay Elevated Despite Improving Global Supply](https://feedsoft.ai/events/20976-fertilizer-prices-stay-elevated-despite-improving-global-supply.md) | -0.3% | -0.5% |
| CORN | 2026-01-26 | [No fertilizer price relief expected for this year \| The Western Producer](https://feedsoft.ai/events/20978-no-fertilizer-price-relief-expected-for-this-year-the-western-producer.md) | -0.3% | -0.5% |
| CORN | 2025-07-02 | [Farmers Can't Catch a Break: Fertilizer Prices, Compared to Corn Prices, Are Now Some of the Worst in History - AgWeb](https://feedsoft.ai/events/23691-farmers-can-t-catch-a-break-fertilizer-prices-compared-to-corn-prices-are-now.md) | -3.1% | -4.1% |

## Sources

- agrospectrumasia.com: https://www.agrospectrumasia.com/features/3/4929/the-hormuz-premium-how-the-2026-fertiliser-shock-rewired-asias-nitrogen-supply.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.