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Fri, 27 Mar 2026

Fri, 27 Mar 2026 How the Hormuz closure could affect food, medicines and smartphones

The price of a wide range of goods - from food, to smartphones, to medicines - could be affected by the US-Israel war with Iran.

* Fertilizers: Global fertiliser prices could increase by 4.2% due to a shortage, particularly affecting wheat (up by 4.2%), fruit and vegetable prices (up by 5.2%). Zambia, Sri Lanka, Taiwan, and Pakistan are among the countries that could be most affected.
* Helium: The global helium supply chain has been severely disrupted, potentially leading to price spikes in cutting-edge technologies such as smartphones, data centres, and MRI scanners.
* Pharmaceuticals: Derivatives from petrochemicals, including methanol and ethylene, are vital materials for the production of pharmaceuticals. Disruptions in these supplies could lead to higher medicine prices for households.
* Sulphur: Around half of global seaborne sulphur trade normally passes through the Strait of Hormuz, with its main use being as an agricultural fertiliser. Disruptions in sulphur supplies could lead to higher prices for consumers of products containing batteries.