A report by specialists from the Rosario Stock Exchange outlines arguments and contextualizes the current situation in the agricultural sector regarding fertilizer imports. According to the report, '39% of imported nitrogenous fertilizers come from that region' and 'urea prices are the highest since 2022'. The conflict in the Middle East has direct impacts on the fertilizer market, as a third of the world's fertilizer exports flow through the Strait of Hormuz. In this regard, the top three phosphate suppliers account for 65%, while for nitrogenous fertilizers, they total 41%. Argentina imported 4.1 million tons of fertilizers in 2025, an increase of 28% compared to 2024. Nitrogenous fertilizers, including urea, were the most imported, at 2.10 million tons, equivalent to 52% of the total. The conflict in the Middle East has disrupted supply chains. A week after the conflict began, the FOB price of nitrogenous fertilizer in the Middle East had jumped from $483/t to $685/t. This price increase has already begun to transfer to import values in South America. As a result, local production has been partially affected, contributing to a greater need for imports. This situation necessitates close monitoring of events in the Middle East, as it directly impacts the supply chains and the cost of key resources for Argentina's agricultural sector.
