While much of the world has been focused on the war in Iran’s impact on the energy sector, another arguably more impactful market has been largely overlooked: fertilizer. The global fertilizer market is in a precarious spot. Roughly a third of the world's seaborne fertilizer trade goes through the Strait of Hormuz. Even before the war in Iran began, China, the world’s top phosphate producer, halted exports of the crucial compound. As a result, the longer the strait remains closed, the more the threat to our global food supply escalates. In this episode, Shayle speaks with Josh Linville, vice president of Fertilizer at StoneX, to make sense of the global fertilizer market and its cascading impacts. Shayle and Josh cover topics including: The current state of global fertilizer markets The tenuous relationship between natural gas prices and the cost of producing nitrogen-based fertilizers in Europe How stalled shipments of fertilizer could impact supply and demand for next year’s planting season The impact of Chinese phosphate export restrictions on the global market How a prolonged closure of the Strait could impact food supplies around the world Resources Josh Linville’s X account Open Circuit: Iran, energy shocks, and the case for distributed power Latitude Media: DOE’s second ‘Energy Dominance’ loan was reworked to embrace coal Latitude Media: This isn’t demand destruction. It’s rationing. Credits: Hosted by Shayle Kann. Produced and edited by Max Savage Levenson. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor. Catalyst is brought to you by FischTank PR, an award-winning climate and energy tech, renewables, and sustainability-focused PR firm dedicated to elevating the work of both early-stage and established companies. Learn more about their PR approach and how they can support your company’s messaging by visiting fischtankpr.com. Catalyst is brought to you by EnergyHub. EnergyHub helps utilities build next-generation virtual power plants that unlock reliable flexibility at every level of the grid. See how EnergyHub helps unlock the power of flexibility at scale, and deliver more value through cross-DER dispatch with their leading Edge DERMS platform, by visiting energyhub.com.Tune into Critical Capital, a brand new podcast from Crux and Latitude Studios. Hosted by Crux CEO Alfred Johnson, Critical Capital explores the interlocking forces powering clean and critical infrastructure. Join us every other Tuesday for in-depth conversations at the intersection of energy, government, finance, and global markets. Listen here, or wherever you get podcasts.

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