PBS Newshour reported yesterday that more ships are going around The Cape of Good Hope, adding time and expense. Also, ship fuel prices have already doubled, and insurance rates have increased. All of that will land on consumers sooner rather than later.

Combined with a 30% drop in fertilizer (because 30% of it comes through the Strait of Hormuz) making food more expensive (and companies happy to jack prices even more with that as an excuse), we can expect a BIG boost to inflation.

So much winning!

May he die today.

This just in: https://ukragroconsult.com/en/news/china-has-restricted-fertilizer-exports-amid-the-growing-crisis/

Expect food prices to JUMP, and we may even have shortages of certain items.

China has restricted fertilizer exports amid the growing crisis

The Chinese government has ordered domestic exporters to suspend exports of nitrogen-potassium fertilizer blends, Bloomberg reported. Chinese authorities have only confirmed existing export restrictions on urea in the form of quotas.

^{Ukragroconsult}