🚀The Iran War is cutting vital fertilizer flows:

Gulf urea production is down to ~160,000 tons per week, hitting another new low of the year.

Urea is the world's most widely used nitrogen fertilizer and a crucial input for growing staple crops including corn, wheat, and rice.

Gulf urea production has fallen ~60% since the start of the Iran War.

Furthermore, only 11 fertilizer ships have transited the Strait of Hormuz since the war began, with 44 vessels carrying fertilizer still stuck inside the Gulf and nearly half of them loaded with urea.

Producers are also running out of storage space, raising the risk that manufacturers will be forced to shut down entirely.

The Middle East accounts for ~45% of global urea trade, supplying major agricultural importers including India, Europe, and Brazil.

Global food inflation is set to accelerate.$XRP $TRUMP $DUSK