Hormuz Strait "thaw"! Significant recovery in Middle East fertilizer supply eases global food inflation pressure.

According to financial news app, with the temporary peace agreement signed between the US and Iran, the shipping in the Strait of Hormuz has gradually resumed, and the export volume of fertilizers transported through the strait has significantly increased since last week. Based on ship tracking data compiled by the media and data from the shipping intelligence company Kpler, at least 16 vessels loaded with fertilizer products have left the Strait of Hormuz since the temporary peace agreement was signed by the US and Iran, and the transportation volume is gradually approaching pre-war levels. Among the more than 40 ships that have been stranded since the outbreak of the war, at least 18 have left, with most heading towards Asia. According to Kpler's data, as of the week ending June 21, the amount of fertilizer exported through the Strait of Hormuz has recovered from near zero levels during the war to approximately 530,000 tons. The agency's preliminary tracking data for this week shows that fertilizer transportation is still recovering.