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Darwin, August 03: Global sulfur prices have surged by 134% due to supply disruptions caused by the Iran–U.S. conflict, raising fertilizer production costs and increasing concerns over pressure on global food production.
The information was published in a report by Bull Theory on Sunday.
According to the report, nearly half of the sulfur transported through global maritime trade passes through the Strait of Hormuz. Disruptions to shipping along this strategic waterway created a significant supply shortage in the international sulfur market.
Data from Reuters show that during the Iran–U.S. conflict, only 80,000 metric tons of sulfur were shipped through the Strait of Hormuz over a period of three and a half months. However, after an agreement helped ease tensions, sulfur shipments through the same route increased to 640,000 metric tons.
Sulfur is a key raw material used in fertilizer production. As its price continues to rise, fertilizer manufacturing costs are also increasing worldwide, potentially driving up agricultural production costs and food prices in the future.
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