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The closure of the Strait of Hormuz has halted about half of global fertiliser exports, with prices for nitrogen supplements up 30 per cent, Al Jazeera reports citing Russia’s Security Council.
Deputy Secretary Alexander Venediktov has said the disruption could derail the sowing campaign in Asia, with oil supplies to Europe and Asia already down 40pc below planned levels.
The strait carries approximately a third of all global seaborne fertiliser trade.
With no quick replacement in sight, Russia, the world’s largest fertiliser exporter, says it cannot fill the gap.
