Fertiliser costs skyrocket due to Iran war | What Aussie farmers are doing to keep afloat
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Fertiliser costs skyrocket due to Iran war | What Aussie farmers are doing to keep afloat
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Iran’s blockage of the Strait of Hormuz has halted about 20% of the world’s oil, along with other products like the nitrogen fertiliser urea, sending prices soaring.
Today, the Gippsland Monitor’s Jacob Wallace explains how two-thirds of Australia’s urea comes from the Persian Gulf, and what that means for Aussie farmers.
Jacob said farmers are either skipping fertilising paddocks for a season, hedging their bets that prices will come down by next season to make up for it, or switching to alternatives.
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