The head of one of the world's largest fertilizer producers has warned that the ongoing war in Iran could jeopardize the production of up to 10 billion meals each week, with developing nations facing the most severe consequences.
Svein Tore Holsether, CEO of Yara International, told the BBC that hostilities in the Gulf region, which have disrupted shipping through the Strait of Hormuz, are endangering global food supplies. The blockade has halted the transport of key fertilizer ingredients, leading to a significant reduction in production.
"We're up to half a million tons of nitrogen fertiliser not being produced in the world right now because of the situation we are in," Holsether said. "What does that mean for food production? I would get to up to 10 billion meals that will not be produced every week as a result of the lack of fertilisers."
He explained that failing to apply nitrogen fertilizer could reduce crop yields by as much as 50% in the first season. Farmers worldwide are grappling with soaring costs for energy, diesel, and fertilizers, while crop prices have not risen proportionally, squeezing their margins.
Holsether urged European nations to consider the impact on the world's most vulnerable populations. "If there's a bidding war on food and one that Europe is robust enough to handle, what we need to keep in mind is, okay, in that situation, who are we buying the food away from? That is a situation where the most vulnerable people pay the highest price," he warned.
While the UK is unlikely to face outright food shortages, rising production costs are expected to push grocery bills higher in the coming months. The Food and Drink Federation recently predicted that food inflation could reach 10% by the end of the year.