Gulf War Impacts Fertilizer, Threatens Global Food Supply

0:00On May 1st, the war in the Gulf is messing with fertilizer supplies big time, blocking ships through the strait of hormones and threatening global food, production. Sveintori Holsether, CEO, major producer Yara, says we're already missing half a million tons of nitrogen fertilizer worldwide, which could wipe out up to 10 billion meals every week. Crop yields could drop by as much as 50 percent without that nitrogen, hitting the first harvest season hardest and sparking chaos in farming, everywhere. Farmers are getting crushed right now. Energy costs, diesel, and fertilizer prices have jumped 80 percent since the conflict kicked off, but crop. Prices haven't caught up yet, leaving them squeezed. This sets up a nasty bidding war for food, where rich are spots like Europe outbid poor nations, jacking up hunger and scarcity for the most, vulnerable folks abroad. UK shoppers might not see empty shells, but expect food bills to climb with inflation, possibly hitting 10 percent by year's end, something to watch.

1:02As this drags on...