Urea prices have risen 75% since the start of the US-Israel war in Iran, eroding the already thin profit margins of Australian grain farmers
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“Wars are not good,” says the Wimmera farmer John Bennett from inside a workshop on his 10,000 hectare farm.
Bennett’s property is more than 11,000km from the strait of Hormuz, yetconflict in the Middle East is having a daily impact on his life.
He estimates increased fertiliser costs and delays spurred by blockage of the vital shipping lane could strip about $600,000 from his farm’s bottom line.
