Hormuz Strait disruptions could lead to global food security crisis, International Chamber of Commerce Chief warns

Disruptions in the Strait of Hormuz could lead to a global food security crisis, the secretary general of the International Chamber of Commerce (ICC) John Denton warned. According to the Wall Street Journal, Denton indicated that if the vital waterway is not reopened, grain prices could rise by up to 80 percent. The situation in the strait has also caused a shortage of around 2.7 million tons of fertiliser on the world market, a decrease of nearly 40 percent. Such obstacles could affect international agricultural production and food supplies, making import-dependent countries especially vulnerable. The report noted that the ICC is working with the UN and the International Maritime Organization on a mechanism that would transfer temporary management of navigation through the waterway to the UN Secretary General. However, the ongoing tensions between the US and Iran have hindered its implementation, the report added.