AgroPages China News: The Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO) have recently jointly published the OECD-FAO Agricultural Outlook 2026–2035. The report delivers comprehensive projections for the markets of key global agricultural commodities over the coming decade.

Fertilizer and energy prices have spiked due to the closure of the Strait of Hormuz, putting pressure on agricultural producers and sparking fears of a potential rise in food prices.

Two major shocks have recently struck the global agrochemical market in quick succession, pushing the fertilizer supply chain to a dangerous tipping point. Russia has announced a one-month ban on ammonium nitrate exports; the UN Food and Agriculture Organization (FAO) has warned that shipping disruptions in the Strait of Hormuz could trigger a 15%–20% surge in global fertilizer prices in the first half of 2026.

In early March, U.S. and Israeli strikes on Iran sent shockwaves through the Strait of Hormuz, and tanker traffic ground to a near halt. Nitrogen prices began climbing fast.