Hormuz blockade triggers global food crisis

The blockade of the Strait of Hormuz has evolved from an energy shock into a structural food crisis affecting global agricultural markets. This critical shipping artery handles about 50% of the world's sulfur trade and over 25% of nitrogen fertilizer trade, creating a dual energy and biological shock. In the United States, where 97-99% of corn production depends on nitrogen, fertilizer prices have risen 18-46%, reducing actual consumption to about 75% of normal levels. The phosphate segment has seen price increases exceeding 35%, weakening production potential and creating a 'hidden drop in crop yields' that will manifest during harvest periods from September to November.