Sri Lanka, March 9 -- Amid the widening conflict in the Middle East, the Sri Lankan government is bracing for possible disruptions to energy and essential food supplies and potential price spikes in the months ahead, though there is no immediate major threat.

Naval traffic through the Strait of Hormuz has been paralysed. It is a major shipping chokepoint in the world, responsible for around 20 percent of global oil consumption.

Maritime insurance premiums for war coverage are surging-in some cases by more than 1,000 percent-dramatically driving up the cost of moving energy through this critical maritime corridor, according to reports by Reuters.

A spokesman for the Essential Food Commodities' Importers and Traders Association said pric...