A CHOKEPOINT WITH GLOBAL CONSEQUENCES


You see, it is estimated approximately 800,000 MT of fertilisers & precursors are removed from the market each


month the Strait of Hormuz are closed (1).


To give you an idea of the impact,


News Nation’s Brooke Shafer of the U.S. summed it up well when he said ‘…it’s not just 20% of the world’s oil that travels through the Strait of Hormuz – it’s fertilizer, too. About one-third of the world’s fertilizer travels through the Strait, according to the United Nations. That includes nitrogen fertilizers, which require liquified gas, and phosphate fertilizers, made from urea, ammonia and sulphur. Fertilizers are paramount to producing wheat, fruit, corn, rice and more’(2)


. Added to


this, Bloomberg’s Julian Luk & James Attwood reported that ‘China has indicated it will halt exports of sulphuric acid from May, hitting metals and fertilizer industries already strained by raw material bottlenecks resulting from the Iran war.’ (2)


. Luk further added that ‘The region produces one third of the


world’s sulphur, a raw material used to make sulphuric acid that’s essential for some copper extraction and phosphate fertilizers’ (2)


. An example of the impact


this has had on fertilizer prices and on the willingness of buyers to pay up was the tender India made via Indian Potash Ltd. in late April of a record 2,500,000 MT of urea in a single tender at nearly double the price (1.5mm MT at USD


NATURAL GAS IS THE KEY!


9 | ADMISI - The Ghost In The Machine | Q2 Edition 2026


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