Phosphate: An old workhorse turned critical commodity

AI Summary

Phosphate fertilizer has become a strategically important commodity, with prices surging amid the US-Iran war and global supply chains nearing a tipping point. The shift highlights the vulnerability of agricultural inputs to geopolitical disruption.

For decades, humble phosphate fertiliser was a simple story of digging up rock to help grow crops. Now, amid the US-Iran war, prices are surging and major global supply chains are at a tipping point.