About 180 million metric tons of fertilizers are consumed each year, and Forbes said roughly 55 to 60 million metric tons of urea move through international seaborne trade annually. The Middle East accounts for approximately 40 to 50 percent of that traded volume, and nearly all of those exports have to travel through the Strait of Hormuz. “In other words, more than one-quarter of the globally traded nitrogen fertilizer, and a meaningful share of total nitrogen production, moves through a single maritime choke point that is now threatened by war,” Forbes said.
