- Summary
- UN-backed mechanism could start within 7-10 days of US-Iran agreement
- Conflict has largely halted fertilizer shipments out of the Gulf
- Only five vessels a day could keep fertiliser flowing, UN official says
- Prolonged disruption could raise cereal prices up to 81%, study says
BANGKOK, Oct 14 (Reuters) – A failure by the United States and Iran to agree within weeks on a UN-backed plan for moving fertilizer through the Strait of Hormuz could cause a food security crisis in parts of Asia and Africa, an official overseeing the proposed scheme said on Wednesday.
The United Nations set up a taskforce in March to facilitate passage of fertilizers through the strait. It is yet to implement the mechanism it drew up, but United Nations Under-Secretary-General Jorge Moreira da Silva said this could be activated within 7-10 days of an agreement between Washington and Tehran.