The US-Israel war on Iran has crippled exports of fertiliser from the Persian Gulf, raising the spectre of higher food prices if the conflict drags on.
The disruption could hand China – the world’s largest fertiliser producer – greater political leverage over countries already locked in disputes with Beijing, though it is unlikely to weaponise exports, according to analysts.
Global fertiliser prices have soared since Iran effectively blocked shipping through the Strait of Hormuz, through which…