00:00Everyone is watching the oil price.
00:02Nobody is talking about the food crisis that is coming next.
00:05The Iran war and the closure of the Strait of Hormuz has not just blocked oil.
00:10It has blocked sulfur, ammonia, and urea,
00:14the three key ingredients in fertilizer that feeds the world.
00:18Gulf countries produce roughly 45% of the world's sulfur,
00:2253% of its sulfur exports, and 64% of its ammonia exports.
00:27All of that is now stranded behind a closed strait.
00:31Analysts project nitrogen fertilizer prices could roughly double from 2024 levels.
00:37Phosphate prices could rise 50%, and this is happening right now.
00:41At the start of the Northern Hemisphere's spring planting season,
00:45when farmers around the world are preparing their fields,
00:48the UN World Food Program has warned that these disruptions
00:52will drive long-term increases in global food prices,
00:55threatening food security in dozens of countries.
00:59For American consumers, this means grocery bills are going up.
01:02For developing nations, it could mean something far worse.
01:06The Iran war started as a military conflict.
01:09It is now a food security emergency,
01:11and the world has barely noticed.
01:13For cooperating nations, it could be one of the most likely estadounidized Mexicanmuity.
01:13For legacyiyi,oulimews,
01:13the tournament should be the overweighting Messieursたち. For both regions at the
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