UN estimates staple food prices rose 6.1% after two months of blockade in Hormuz

The article reports that, according to UN Trade and Development (UNCTAD), two months after the de facto blockade of the Strait of Hormuz, maritime traffic through the route fell by 95.3% and staple food prices rose by 6.1%. It also notes increases in crude and refined product shipping costs, crude oil and natural gas prices, and highlights that the price of urea, a key fertilizer for agriculture in many developing countries, has tripled.