Closure of Strait of Hormuz fraught with fertilizer, food shortages — Kallas

Business & Economy March 16, 15:17

The European Union’s High Representative for Foreign Affairs said the closure of the Strait of Hormuz is also dangerous for the oil supply

BRUSSELS, March 16. /TASS/. The blockage of the Strait of Hormuz is fraught with a shortage of fertilizers and food on the global market, the European Union’s High Representative for Foreign Affairs Kaja Kallas said.

"The closure of the Strait of Hormuz is really dangerous for the oil supply <…>, and it’s also problematic for fertilizers. If there is a lack of fertilizers this year, there’s going to be also food derivation next year," she told reporters.

According to figures from the analytics company Kpler, more than two dozen vessels trapped in the Persian Gulf are carrying around 463,000 tons of urea, 303,000 tons of sulfur, and over 200,000 tons of phosphates. Kpler estimates that the prolonged closure of the Strait of Hormuz could reduce annual supplies of fertilizer components by 30-50%.

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