23% of Global Ammonia Trade Transits Through Strait of Hormuz
ammonia-tradeThe Strait of Hormuz is a critical node for the global ammonia trade, with 23% of the world's ammonia passing through it. This maritime corridor is essential for European fertilizer production, as ammonia is a key chemical precursor to urea and nitrates. The World Bank Group reports a 12% increase in the fertilizer price index in Q1 2026, reflecting the direct impact of energy cost fluctuations on fertilizer prices.
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