US-Iran deal could boost fertilizer shipments after 11% drop

AI Summary

Global fertilizer shipments have fallen 11% year-on-year due to the Iran war and the closure of the Strait of Hormuz restricting exports. The recent ceasefire agreement between the US and Iran could lead to a rebound in fertilizer shipments, easing global supply and price pressures.

“Global fertilizer shipments have fallen 11% y/y since the start of the Iran war. The closure of the Strait of Hormuz has restricted fertilizer exports from the Persian Gulf, tightening the global supply and increasing prices. The ceasefire agreement between the US and Iran could lead to a rebound in shipments,” says Filipe Gouveia, Shipping ...