RISKS OF DISRUPTION OF GLOBAL AGRICULTURE 1/3

The March 2026 military escalation in the Middle East has fundamentally redefined the risks facing global supply chains, shifting the focus from energy to agricultural inputs. While the world's attention remains fixed on oil prices, the near-paralysis of the Strait of Hormuz has triggered a systemic crisis in the fertilizer market. This chokepoint is no longer just an energy artery; it is now the focal point of an imminent agricultural shock that threatens global food security and market stability for the foreseeable future.