Prices of urea, a nitrogen-based fertiliser, have surged 11 percent one week ahead of the planting season, as the Iran war disrupts global commodity markets, sparking fears of food inflation in Nigeria. The war, which has closed the Strait of Hormuz, has shut down fertiliser plants in the Gulf region that account for a third of global urea trade and severely disrupted shipping routes. With fertiliser prices surging, climate change worsening, and farmers cutting down on production, experts say food prices across the country are set to surg
Prices of urea, a nitrogen-based fertiliser, have surged 11 percent one week ahead of the planting season, as the Iran war disrupts global commodity markets, sparking fears of food inflation in Nigeria. The war, which has closed the Strait of Hormuz, has shut down fertiliser plants in the Gulf region that account for a third of global urea trade and severely disrupted shipping routes. With fertiliser prices surging, climate change worsening, and farmers cutting down on production, experts say food prices across the country are set to surg