With no indications on how long the US-Iran war could last and the war’s effects lasting longer than its actual end, Lyon County Extension Ag Agent Brian Rees urges ag producers to watch their fertilizer expenses and plan accordingly.
A key fertilizer for US producers is urea, and half of that comes from the Middle East. Prices have spiked 30 percent in a week due to the war, and Rees says the production of urea and other fertilizers in the Middle East is no longer a guarantee those items will be shipped and delivered because of the ongoing war, including the continued closure of the Strait of Hormuz.
Meanwhile, gas prices have jumped 60-70 cents the last two weeks. Diesel prices have jumped at least 80 cents and now average $4.19 a gallon across Kansas.
Experts are now saying both increases could be felt in food costs at a time when housing and energy costs are up from last year as well.
