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In an assessment for BBM Magazine, IGC Executive Director Arnaud Petit clarifies that while tensions around the Strait of Hormuz have heightened concerns over energy, freight and fertilizer markets, the disruption does not mirror the systemic grain supply shock seen in the Black Sea.

Soaring nitrogen costs triggered by war-related energy disruptions are prompting European farmers to cut fertilizer use, scale back corn and wheat plans, and shift acreage toward less input-intensive crops, raising fresh concerns over grain supplies, yields, and import dependence, Platts, part of S&P Global Energy, reported.