16:35 - 11.03.2026

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March 11, Fineko/abc.az. The conflict in the Middle East may provoke a serious crisis in the chemical sector, including in the market of nitrogen-containing fertilizers, ABC.AZ reports, referring to Bloomberg.

Such fertilizers are necessary for food production.

The crisis may occur at the most unfavorable time for farmers - on the eve of spring sowing. And rising fertilizer prices will affect food prices in the future. According to the agency, farmers have already seen an increase in spot prices for nitrogen fertilizers, in particular in 2022. However, there are currently signs that the situation may worsen in 2026.

During the conflict between the U.S. and Israel with Iran on March 4, the deputy commander of the Naval Forces of the Islamic Revolutionary Guard Corps of Iran, Mohammad Akberzade, said that the Iranian military fully controls the Strait of Hormuz, through which nearly 15% of world's oil exports and 20% of liquefied natural gas (LNG) are transported.

He added that currently the movement of oil, commercial and fishing vessels in this area is impossible.