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In an assessment for Miller Magazine, IGC Executive Director Arnaud Petit clarifies that while tensions around the Strait of Hormuz have heightened concerns over energy, freight and fertilizer markets, the disruption does not mirror the systemic grain supply shock seen in the Black Sea.

Escalating hostilities involving Iran and the de facto shutdown of the Strait of Hormuz are rapidly repricing risk across shipping, insurance and energy, lifting delivered grain costs, tightening fertilizer availability and raising food-security concerns in import-dependent markets across the Gulf and beyond.