The Strait of Hormuz Is Giving US Fertilizer Makers Their Best Run in Years

The Strait of Hormuz has become the most expensive bottleneck in agriculture. The ongoing US-Israeli campaign against Iran has disrupted roughly a third of the world’s fertilizer shipments, sending prices higher while US producers seize a rare advantage. Fertilizer stocks like CF IndustriesCF

, The Mosaic CompanyMOS

, and NutrienNTR

have all risen even as much of the broader market struggles.

• North American fertilizer prices hit $810 per short ton, surpassing the Aug. 2025 peak, while New Orleans import prices jumped to $683 per metric ton.
• European natural gas prices have surged 58% since the conflict began, versus just 13% for US gas, widening the cost advantage for domestic fertilizer producers.

The other side of the field: Farmers who delayed fertilizer purchases are now paying the price after years of weak crop prices, and tariffs squeezed margins. Many are expected to cut corn acreage this spring and shift toward soybeans, which require far less fertilizer. The USDA has warned against price gouging, but with supply routes disrupted and planting deadlines approaching, pressure on American agriculture is only growing.