Previously, the route carried approximately 20% of traded nitrogen fertilizer, though the US and China have since raised nitrogen exports by 60% and 47% respectively. The lack of sulfur led Mosaic to idle two plants in Louisiana, and India's fertilizer subsidy bill may rise to 3 trillion rupees from the 1.71 trillion budgeted.
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Zero Fertilizer Cargoes Crossed Strait of Hormuz in September and October
Commodities2 days ago
Shipments of agricultural nutrients through the Gulf have ceased, cutting off the primary route for about half of the world's traded sulfur. The disruption has pushed sulfur prices above $1,000 a tonne, a more than two-fold increase, while phosphate prices rose by 25% to 30%.
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