Fertiliser crisis puts Asia's food security at stake: Fitch Ratings

FE REPORT
Emerging markets in Asia, including Bangladesh, would see rising cost pressure across agribusiness and food-supply chains if a prolonged US-Iran war pushes fertiliser-supply disruption deeper into the planting season, according to Fitch Ratings.
Reduced fertiliser availability and higher prices would raise production costs, discourage application rates and weaken crop yields for the said sectors, which would lead to margin pressure and higher food prices later in 2026.
"Food cost pressure would rise if fertiliser supply and pricing do not normalise in the near term, especially as some South and Southeast Asian countries enter their sowing season," it said.
The Gulf region produces much of the world's fertiliser as natural gas is an important feedstock, it mentioned, adding that Asia's supply is exposed if the conflict continues, keeping gas prices high and continuing to disrupt shipping in the region.
"We also expect key Asian exporters like China to continue restricting fertiliser shipments, at least to the mid-year," said the Fitch Ratings.
This would prolong input-cost pressure for growers and raise the risk of supply disruption for downstream food producers,