China's chemical export ban threatens to spark 'global supply shock' and send food prices soaring

GB News - News

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A Chinese export ban on chemicals crucial for fertilisers could spark a "global supply shock" and send food prices soaring, analysts have warned.

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Farmers are already facing inflated bills as a result of the war in Iran.

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An estimated third of the world's fertilisers would usually pass through the blocked Strait of Hormuz, and the costs have shot up by as much as 80 per cent.

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The boss of Yara, one of the world's biggest fertiliser producers, says up to 10 billion meals a week could be lost globally, hitting the poorest countries hardest.

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Now analysts have warned of a new threat – a de facto ban on the export of sulphur and sulphuric acid from China.

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