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Record phosphate fertilizer exports via Hormuz
The exports of fertilizers through the Strait of Hormuz have experienced a noticeable rebound, with 16 ships loaded with nutrients departing immediately after the signing of the temporary peace agreement. The shipments reached approximately 530,000 tons per week as they approached normal operating levels. Data shows that the main destinations include India, China, and Sri Lanka, with a focus on easing pressures on global supply and stabilizing prices, as the price of urea has dropped to around $350 per ton. This recovery reflects an improvement in the movement of essential goods and has a positive impact on global agricultural markets.
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