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UN Fund Warns of Strait Disruptions Impacting Food Supply
The head of the United Nations International Fund for Agricultural Development warned that disruptions in shipping through the Strait of Hormuz are threatening global food security, particularly by affecting agricultural crops and food prices. He explained that the closure of the strait has disrupted fertilizer shipments, increased fuel and transportation costs, and ongoing disruptions in wheat supplies across the Black Sea, along with the El Niño phenomenon, have further pressured production and distribution. He forecasted a 13% rise in agricultural commodity prices in the third quarter, with the possibility of continued increases in the future, warning that ongoing uncertainty may lead farmers to reduce the cultivation of high-value crops, thereby impacting global agricultural output.
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