The effective closure of the strait has cut off about a third of the seaborne fertiliser trade, fuelling fears of a food crisis. Nations have raced to secure alternative supplies for farmers but top producers including China and Russia have capped exports, forcing buyers to pay premiums for limited volumes.
(April 22): Russia extended fertiliser export quotas until December as a global deficit deepens due to the Iran war and disruptions in the Strait of Hormuz, a key route for the seaborne trade in nutrients.
Russian producers are allowed to export 20 million tonnes of fertilisers for the period from June 1 to Nov 30, the government said in a statement Wednesday.
