Indonesia eyes urea fertilizer exports to four countries
Jakarta, April 16 -- Indonesia is in discussions with four countries regarding a plan to export urea fertilizer amid global supply chain disruptions caused by the closure of the Strait of Hormuz.
"So far, we have contacted India, the Philippines, Brazil and Australia," Deputy Minister of Agriculture Sudaryono said on Wednesday following a meeting with the Australian ambassador to Indonesia Roderick Brazier.
He explained that approximately one third of global fertilizer distribution passes through the Strait of Hormuz.
Disruptions in the region have had a significant impact on global supply and led to a sharp increase in prices.
Urea prices previously hovering around US$600 to US$700 per ton have now soared to nearly US$900 per ton.
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