Middle East War Squeezes Brazil Farm Costs on All Fronts

2026-03-18 - 14:10

Key Points — The Middle East conflict is hitting Brazil’s farm sector through diesel, fertilizers, and freight — with urea prices up 37% on global benchmarks and ammonium nitrate up 28% at Brazilian ports — Brazil imports 85% of its fertilizers, with roughly 41% of its urea supply transiting the now-disrupted Strait of Hormuz; only