United Nations Food and Agriculture Organization: US-Iran conflict is rapidly impacting global food and energy supply chains.

On March 26th local time, the United Nations Food and Agriculture Organization stated that the recent US-Iran conflict has caused one of the most rapid and severe impacts on global commodity flow in recent years. The navigation in the Strait of Hormuz has been disrupted, leading to higher costs for energy, fertilizers, and shipping insurance, with continued overflow affecting global food security and agricultural supply chain stability. FAO Chief Economist Maximo Torero introduced in a press briefing that the Strait of Hormuz is a key channel for global energy and fertilizer transportation, carrying around 20 million barrels of oil per day, accounting for about 35% of global oil transportation; it also carries a large amount of liquefied natural gas and fertilizer trade transportation, with sulfur from the Gulf region being an important raw material for phosphorus fertilizer production. The impact of the blocked waterway has quickly spread to the global food and agricultural system.