Evonik on Tuesday said it is increasing its prices by 15% effective immediately for its amino and keto acid products due to rising energy, raw material and shipping expenses caused by the Iran war.

Supply chain disruptions caused by the Iran war are spreading beyond oil markets into global food and chemical industries, according to media reports.

The global maritime industry is facing a looming shortage of the fuel that powers ships as the Iran war chokes off a key shipping lane in the Strait of Hormuz.