IICA Director Highlights Iran War as Major Agricultural Challenge in Latin America
The war in the Middle East and the partial closure of the Strait of Hormuz threaten fertilizer supplies, increase costs, and jeopardize food production and prices in Latin America.
TL;DR
- The war in the Middle East and the partial closure of the Strait of Hormuz are threatening fertilizer supplies in Latin America.
- This disruption is increasing costs and putting food production and prices at risk across the region.
- Brazil, importing over 50% of its fertilizers, is particularly vulnerable, as are other major food producers like Argentina, Mexico, and the US.
- Increased energy costs due to restrictions further exacerbate the rise in food prices.
- IICA is providing digital information systems to help countries manage risks, identify deficiencies, and promote data exchange regarding fertilizers.
- The institute is also helping countries identify innovations to boost production with low fertilizer inputs and reduce reliance on single import sources.
- Trinidad and Tobago and Guyana are emerging as potential key players in regional fertilizer supply chains due to their natural gas production.
- IICA is also promoting biofertilizer production through its bioeconomy program.
- The AgriConnect initiative, a collaboration between IICA and the World Bank, aims to improve infrastructure, develop human capital, and provide digital tools and technical support for the agricultural sector.
- AgriConnect also focuses on addressing the lack of financing for agricultural projects.
- IICA is seeking to enhance collaboration with the US on animal and plant health inspection services to control transboundary diseases.