Three positions in a world of conditional access
Food prices are usually the last place an energy shock becomes visible. The first signs appear upstream – in diesel, ammonia, urea, potash and planting decisions. This week’s Watchlist looks at three fertiliser producers outside the disrupted Gulf supply chain, at a moment when the market is asking where reliable non-Gulf crop nutrient supply can come from.
May 14, 2026
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4 min read