The United Nations said earlier this week that a diplomatic push is growing for a U.N.-led proposal to ensure safe passage for fertilizer through the Strait of Hormuz.
A source familiar with the discussions told Reuters that the talks are emphasizing the growing urgency due to worldwide shortages. The six weeks of fighting in Iran have upended global supply chains after a near-total halt to shipping in the Strait. The source also said the urgency is growing as some farmers in Latin America are skipping their typical second-crop corn plantings.
Growers in Africa face a critical timing window, as severe yield losses will happen without enough fertilizers. Reuters said a more than 90 percent drop in tanker traffic through the Strait is threatening agricultural production and global food security.
Businesses are looking for a mechanism to restore navigational freedom without the need for naval escorts or tolls.
NAFB news service
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