Fertilizer price surge due to Hormuz closure to trigger food price spike — Sechin

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Fertilizer prices surged by almost 60% in the first four months of this year, primarily due to the closure of the Strait of Hormuz. Igor Sechin warned this would trigger a spike in food prices globally.

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