Diesel and fertilizer costs have soared due to the conflict, with growers projected to lose $31 billion this year
US grain farmers have been plunged into their worst financial crisis in four decades as the war with Iran drives up diesel and fertilizer costs, the Financial Times reported on Tuesday. The latest price shock compounds years of weak crop prices and falling incomes.
The mounting pressure follows the US-Israeli attack on Iran in February, which prompted Tehran to largely block commercial shipping through the Strait of Hormuz, a key route that previously served about a fifth of the world’s energy supplies. The resulting surge in…
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