Jun 8, 2026 – 9.00amDairy prices are expected to spike in the coming months, as the longer the Iran war stretches on in the Middle East, the harder it has become for farmers to wear the surging cost of energy and fertiliser from the closure of the Strait of Hormuz.Iran’s effective blockade of the key waterway, through which about a fifth of the world’s oil and gas supply is shipped and about a third of fertiliser trade, has sent oil and urea prices up around 40 per cent since before the conflict erupted in late February.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Dairy prices to spike as supply shock hits farming’s ‘elite athletes’
Soaring oil and urea costs are flowing directly to Australian farm gates, putting agricultural producers under pressure to lobby for a better deal.
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