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IranWar Disrupts Chinese, Russian Fertilizer Exports to Nigeria

Bloomberg Markets •
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China and Russia are delaying shipments of phosphorus fertilizers and potash to Nigeria, a key supplier for the nation's 40 million farmers, due to the Iran war disrupting the Strait of Hormuz transit route. The conflict has choked off both fertilizer nutrients and natural gas feedstock, causing prices to surge and supplies to tighten. Nigeria's Agriculture Bank CEO warns this creates a strain affecting global food security. China has restricted exports of some products to stabilize domestic supply, exacerbating the shortage for Nigeria, Africa's most populous country facing severe food insecurity.