Iran conflict drives up fertilizer costs during busy planting season (Trump taking decisive anti-farmer action by provoking Iran into closing the strait of Hormuz)
Iran conflict drives up fertilizer costs during busy planting season (Trump taking decisive anti-farmer action by provoking Iran into closing the strait of Hormuz)
Unfortunately this is going to hurt Canada as well, and not just farmers. As the article mentions, because of demand destruction from higher prices of fertilizer is going to hit potash exports even if potash doesn’t flow through the strait of Hormuz.
This article also illustrates further second order effects unforeseen by the Trump administration. In several months, people may have to contend with not only higher energy prices from an oil shock, but a food shock as well.
For the US specifically, these issues are exacerbated by trade tensions with China, as soybean farmers already hurt by lack of demand from China are going to have the double whammy of produce they cannot sell, and fertilizer prices significantly elevated.
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Unfortunately this is going to hurt Canada as well, and not just farmers. As the article mentions, because of demand destruction from higher prices of fertilizer is going to hit potash exports even if potash doesn’t flow through the strait of Hormuz.
This article also illustrates further second order effects unforeseen by the Trump administration. In several months, people may have to contend with not only higher energy prices from an oil shock, but a food shock as well.
For the US specifically, these issues are exacerbated by trade tensions with China, as soybean farmers already hurt by lack of demand from China are going to have the double whammy of produce they cannot sell, and fertilizer prices significantly elevated.
Archive link: [https://archive.ph/fTtn1](https://archive.ph/fTtn1)