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Economist Justin Wolfers on Tuesday warned of rising food prices if the disruption in the Strait of Hormuz continues, which is not only driving oil prices higher but also fertilizer costs.
In a post on X, Wolfers wrote, “The big story right now is oil. The next story is food.” He added, “That’s the transmission channel people miss: if fertilizer is caught on the wrong side of the Strait of Hormuz, food prices can be next.”
Higher Fertilizer Prices Could Result In Food Crisis
Higher fertliizer prices are putting pressure on farmers and the agriculture sector. …
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