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Impact of the Armed Conflict on Fertilizer Prices.

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Fertilizer shipments from the Persian Gulf

29/06/2026 Go to Evidence

Fertilizer exports from the Persian Gulf were 0 (zero) during the last two weeks of June, continuing the trend of being virtually nonexistent, even after the signing of a Memorandum of Understanding regarding the conflict in the region. (World Trade Organization, 2026)

Organización Mundial del Comercio. (2026). Strait of Hormuz Trade Tracker

Organización Mundial del Comercio

Natural gas price increase

08/04/2026 Go to Evidence

Natural gas prices, the main input for fertilizers, increased by up to 50%, driving up the cost of the sector (Agrolatam, 2026).

Agrolatam. (2026). Fertilizer prices surge in U.S. as urea jumps 34% ahead of planting.

Agrolatam

Dependence on imports

06/04/2026 Go to Evidence

More than 80% of the fertilizers used in Latin America are imported, which increases regional vulnerability to external shocks (Mundoagro, 2026).

Mundoagro. (2026). El impacto por región y los riesgos de la crisis global de fertilizantes para la fruticultura. https://mundoagro.io/cl/el-impacto-por-region-y-los-riesgos-de-la-crisis-global-de-fertilizantes-para-la-fruticultura/

Mundoagro. (2026)

Gulf urea dependency

01/04/2026 Go to Evidence

36% of Brazil's urea imports came from Iran, Qatar, Saudi Arabia, Oman and the United Arab Emirates in 2025, currently affected by the closure of the Strait of Hormuz (Canuto, 2026).

Canuto, O. (2026). Transmission channels of the war on Iran to the Brazilian economy. Policy Center for the New South. https://www.policycenter.ma/publications/transmission-channels-war-iran-brazilian-economy

Policy Center for the New South

Potential phosphate deficiency

01/04/2026 Go to Evidence

Brazil could face a phosphate deficit of between 1 and 3 million tons if supply restrictions persist (Canuto, 2026).

Canuto, O. (2026). Transmission channels of the war on Iran to the Brazilian economy. Policy Center for the New South. https://www.policycenter.ma/publications/transmission-channels-war-iran-brazilian-economy

Policy Center for the New South

Increase in the price of urea

01/04/2026 Go to Evidence

Urea prices in Brazil increased by 35% during the first weeks of March due to the conflict (Canuto, 2026).

Canuto, O. (2026). Transmission channels of the war on Iran to the Brazilian economy. Policy Center for the New South. https://www.policycenter.ma/publications/transmission-channels-war-iran-brazilian-economy

Policy Center for the New South

Impact on national demand

01/04/2026 Go to Evidence

20% of the total demand for phosphates in Brazil could be affected by the projected deficit (Canuto, 2026).

Canuto, O. (2026). Transmission channels of the war on Iran to the Brazilian economy. Policy Center for the New South. https://www.policycenter.ma/publications/transmission-channels-war-iran-brazilian-economy

Policy Center for the New South

Dependence on imported phosphates

01/04/2026 Go to Evidence

78% of phosphate consumption in Brazil depends on imports, which exposes the country to external restrictions (Canuto, 2026).

Canuto, O. (2026). Transmission channels of the war on Iran to the Brazilian economy. Policy Center for the New South. https://www.policycenter.ma/publications/transmission-channels-war-iran-brazilian-economy

Policy Center for the New South