International organizations say that fertilizer prices may remain high in the long term.

At the Spring Annual Meetings of the International Monetary Fund and the World Bank, the International Energy Agency, in collaboration with these two major organizations, issued a statement announcing joint efforts to address the current crisis. The statement warned that shipping in the Strait of Hormuz has not returned to normal, and that oil, gas, and fertilizer prices may remain high in the long term, with low-income countries being most severely impacted. IEA Executive Director Birol stated that the agency is closely monitoring the situation and is prepared to increase the release of oil reserves when necessary.