UN Urges Iran and US to Reopen Hormuz Strait to Fertilizer Ships

Cointime update: The UN Office for Project Services executive director, Da Silva, said on the 14th that Iran and the United States should immediately allow fertilizer shipments through the Strait of Hormuz to ease a crisis facing vulnerable countries. A third of the world’s fertilizer moved through the strait before the conflict, and global fertilizer prices have risen about 30% since fighting broke out this year. He warned 45 million people could face severe food insecurity if planting seasons are missed.