Billions of meals at risk due to Iran war, says fertiliser boss
The CEO of Yara, one of the world's largest fertiliser producers, warned that the war in Iran has disrupted fertiliser supplies, potentially putting up to 10 billion meals a week at risk globally. He highlighted that reduced fertiliser availability could severely impact crop yields, especially in poorer nations, and lead to a food bidding war. While the UK is unlikely to face shortages, rising production costs are expected to increase food prices for consumers.
- ▪Svein Tore Holsether, CEO of Yara, stated that half a million tons of nitrogen fertiliser are not being produced globally due to the conflict in the Gulf.
- ▪The war in Iran and blockage of the Strait of Hormuz have disrupted shipping and contributed to an 80% increase in fertiliser prices.
- ▪Holsether warned that without fertiliser, crop yields could drop by up to 50% in the first season for some crops.
- ▪He cautioned that a potential food bidding war between rich and poor nations could worsen hunger and food affordability in developing countries.
- ▪The Food and Drink Federation forecasted that UK food inflation could reach 10% by the end of the year due to rising production costs.
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Fertiliser boss says war puts 10 billion meals a week at risk12 minutes agoShareSaveAdd as preferred on GoogleSimon JackBusiness editorGetty Images /Tatiana TerekhinaThe interruption to supplies of fertiliser and its key ingredients due to the war in Iran could cost up to ten billion meals a week and will hit poorest countries hardest, according to the boss of one of the world's biggest fertiliser producers.Svein Tore Holsether, chief executive of Yara, told the BBC that hostilities in the Gulf, which have blocked shipping through the Strait of Hormuz, are jeopardising global food production.Reduced crop yields as a result of lower fertiliser use could lead to a bidding war for food, he warned.He urged European nations to consider carefully the impact of a price war on the "most…
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