US-Iran conflict blocks Strait of Hormuz, threatening global food prices via fertilizer shortage

The Strait of Hormuz has been blocked due to escalating US-Israel military conflict with Iran, disrupting natural gas and fertilizer exports from the Persian Gulf region. The Middle East supplies 34% of global urea and 49% of sulfur—critical inputs for agricultural fertilizers—creating immediate risk of grocery price increases worldwide. This supply disruption threatens food security across Europe, Asia, and North America, as fertilizer shortages will reduce crop yields and raise production costs for farmers globally. The blockade's duration and potential escalation could trigger broader economic consequences throughout 2026.