The World Faces Famine Due to the War in Iran
Up to 45 million people could face food shortages if the war continues into the summer. The World Food Program warns that the situation is approaching critical levels. The number of hungry people in the world could exceed a record 319 million.
The closure of the Strait of Hormuz has halted nearly 50% of global fertilizer exports. This already affects agriculture and could disrupt planting seasons in Europe and Asia. Fertilizer prices have risen by 30%.
Russia, which controls nearly 20% of the fertilizer market, stands to profit from this and may increase its exports.
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