Global Food

Powerful property and farming firm Grosvenor Group says knock-on effect of Iran war could arrive next yearFertiliser shortages caused by the Iran war have driven up costs for UK farmers by up to 70% and will have a “dramatic” impact on food prices globally next year, according to one of Britain’s most powerful property and farming companies.Mark Preston, executive trustee of the 349-year-old Grosvenor Group, controlled by the Duke of Westminster, said fertiliser “was already quite expensive” before the 50% to 70% surge in prices since the start of the Iran war in late February. Continue reading...

• New Zealand Prime Minister Christopher Luxon is in Singapore to formalize a fuel-for-food arrangement aimed at protecting NZ during crises. • The deal emphasizes trade resilience as security issues overshadow economic interdependence, per Luxon's statements. • It underscores bilateral efforts to navigate global volatility through resource swaps and stronger ties.

Yara’s Svein Tore Holsether says it would be ‘catastrophic’ if the strait of Hormuz was closed for a year The boss of one of the world’s largest fertiliser companies has said global food supplies could be badly damaged this year if the Iran war becomes an extended conflict.Svein Tore Holsether, the chief executive of Norway’s Yara International, has called on global leaders to consider the impact that soaring food prices will have in some of the world’s poorest countries “before it is too late”. Continue reading...