Food inflation is back on the table as midterms loom
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The Bottom Line
Iran war disrupts fertilizer supplies, threatening higher food prices during midterm season.
How This Affects You
Your grocery bills may increase significantly as agricultural input costs rise from supply disruptions.
AI Summary
The Strait of Hormuz disruption from the Iran war has triggered spikes in oil and fertilizer prices, threatening U.S. agricultural production as spring planting season approaches. Gulf states affected by the conflict produce nearly 49% of the world's urea and about 30% of ammonia, while the U.S. imports 97% of its potassium from foreign sources. The American Farm Bureau Federation warned President Trump in a letter that supply chain shocks will drive already record-high input prices even higher, potentially causing food inflation during midterm campaign season.
What's Being Done
The American Farm Bureau Federation warned Trump about rising input costs in a letter.
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