Planting season is beginning in Asia – but the closure of the Strait of Hormuz and Chinese restrictions has hit fertiliser supply.
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It follows growing tensions over the return of Russia for the first time since the full-scale invasion of Ukraine.
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A shortage of fertiliser due to the Iran conflict could reduce crop yields and push prices higher, says the boss of Yara.
The number of county court judgements rose by 17.5% in the first quarter of this year compared to last, data suggests.
Data suggests prices peaked on 8 April when 500 litres cost an average of £627.