Fertilizer through Hormuz has dropped to zero. No fertilizer cargoes crossing the strait in September or October. Before the war, about 20% of the world’s traded nitrogen fertilizer went through it, Fertilizer Daily reports. The Gulf also supplies about half of the world’s traded sulfur. Hear me out: urea isn’t the problem. China raised its nitrogen exports about 47% and the US about 60%. By the end of August urea was back to its January price, IFPRI data shows. Sulfur is the problem. It has more than doubled, to above $1,000 a tonne, and phosphate is up 25–30%. You need sulfur to make phosphate fertilizer. Mosaic has idled two Louisiana plants, and India’s fertilizer subsidy bill could pass 3 trillion rupees, against 1.71 trillion budgeted. Oil found other ways out of the Gulf. Sulfur hasn’t. source: World Visualized