Window: disclosures dated 2026-03-25 → 2026-09-25 · 29 of 35 companies that have historically flagged this theme filed.
# Headline
Across 29 of 35 covered companies filing between 25 March and 25 September 2026, disclosures centred on the closure of the Strait of Hormuz and Red Sea transit restrictions tied to the Iran conflict. Fertilizer producers reported the sharpest quantified effects — CF Industries (US) put lost Middle East traded nitrogen supply at roughly 4.0 to 4.5 million metric tons of urea, while Yara International described a disruption to about one-third of globally traded urea. Food and consumer names reported freight, fuel and polymer cost increases, with Fresh Del Monte Produce booking $2.3 million of quality claims, damages and inventory write-offs and Hershey Company stating no material impact on its commodity prices.
# Forces
# Strait of Hormuz shipping disruption and freight costs
7 of 29 companies
Fresh Del Monte Produce disclosed on 31 July that disruption to shipping through the Strait of Hormuz produced customer quality claims, product damages and inventory write- offs totalling $2.3 million in the first six months of 2026. Ridley said on 30 June that the effective closure of the Strait created uncertainty in the timing of future fertiliser supply from Arab Gulf producers and affected vessel movements for fertiliser imports. ICL Group (IL), in disclosures dated 5 August, attributed increased shipping costs to Houthi attacks and threats to commercial vessels that disrupted shipping routes and commercial shipping arrangements; K+S said on 11 May that higher prices for materials, energy and freight from the conflict were weighing on its financial outlook, and Maple Leaf Foods told its 7 May earnings call that the conflict involving Iran was raising transportation costs. Mondelez International said on 28 July that increased shipping costs and transit times had not yet had a material impact, while Bayer on 28 June expected direct impacts on sales plus incremental fuel and transportation costs.
"Escalation of the conflict in the Middle East has resulted in significant disruption to shipping activities through the Strait of Hormuz, leading to customer quality claims, product damages, and inventory write-offs totaling $2.3 million during the first six months of 2026."
— Fresh Del Monte Produce (FDP), 10-Q, 2026-07-31
# Red Sea transit restrictions and shipping times
3 of 29 companies
Camellia reported on 4 September that restrictions on Red Sea transit due to the war in Iran lengthened avocado shipping times and affected product quality on arrival in Northern Europe. Danone said on 18 September that the Middle East situation affected its Change in Working Capital Requirement, reflecting actions taken to secure supply. Kuala Lumpur Kepong stated on 21 September that its Plantation Division maintained healthy production levels despite potential operational disruptions amid the conflict.
"Restrictions on Red Sea transit due to the conflict in Iran have lengthened avocado shipping times and affected product quality on arrival in Northern Europe."
— Camellia (CAM.L), Half-Year Report, 2026-09-04
# Crop nutrient and input commodity price volatility
3 of 29 companies
Nutrien said on 7 May and again on 5 August that the conflict is expected to affect global supply and demand for crop nutrients, energy and commodity prices. Pilgrim's Pride, in disclosures dated 30 April, tied the armed conflict involving Iran and the Gulf to increased volatility and higher commodity prices that could raise its input material costs. Hershey Company reported on 30 July that the conflict did not have a material impact on its commodity prices or supply availability during the first six months of 2026, having said on 30 April it was monitoring the situation. The Globe and Mail reported on 6 August that Nutrien executives raised concerns that high prices could dampen fertilizer demand as the Hormuz bottleneck continued.
"The ongoing armed conflict involving Iran and the Gulf has led to increased volatility and higher prices for commodities, which could impact the company's input material costs and overall inflation."
— Pilgrim's Pride (PPC), 10-Q, 2026-04-30
# Middle East traded nitrogen supply loss
2 of 29 companies
CF Industries (US) quantified on 5 August that the conflict with Iran has cut Middle East traded nitrogen supply by approximately 4.0 to 4.5 million metric tons of urea and about 1 million metric tons of ammonia, with supply expected to stay below pre-conflict levels. In disclosures dated 6 August it added that it anticipates continued impact on the global nitrogen supply and demand balance, resulting in higher volatility of future selling prices. K+S said on 18 September that prolonged Middle East tensions could restrict nitrogen and phosphate supplies, hitting compound fertilizer production and potash demand.
"The conflict with Iran has reduced Middle East traded nitrogen supply by approximately 4.0 to 4.5 million metric tons of urea and approximately 1 million metric tons of ammonia, which is expected to keep supply below pre-conflict levels."
— CF Industries (CF), 8-K, 2026-08-05
# Crude oil prices and petrochemical value chains
2 of 29 companies
BASF reported on 18 September that the closure of the Strait of Hormuz led to surging prices and supply problems in petrochemical value chains, especially in Asia. First Resources, in half-year materials dated the same day, said Middle East geopolitical tensions and their effect on crude oil prices will continue to influence biodiesel economics and, by extension, CPO demand and pricing.
"The conflict in the Middle East, particularly the closure of the Strait of Hormuz, led to surging prices and supply problems in petrochemical value chains, especially in Asia."
— BASF (BAS.DE), Half-Year Report, 2026-09-18
# Energy and fuel cost volatility
2 of 29 companies
AGCO (US) disclosed on 30 July that increased volatility across global energy, logistics and input markets from the conflicts in Ukraine and the Middle East raised fuel, fertilizer, transportation and input costs, negatively affecting its production and supply chain. Tyson Foods said on 3 August that Middle East geopolitical tensions increased volatility in global energy and commodity markets, affecting transportation, freight, energy and cooking oil costs.
"Increased volatility across global energy, logistics, and input markets due to conflicts in Ukraine and the Middle East has led to higher fuel, fertilizer, transportation, and input costs, negatively impacting our production and supply chain."
— AGCO (AGCO), 10-Q, 2026-07-30
# Urea prices and the Hormuz fertilizer supply shock
1 of 29 companies
Yara International said on 24 April that the blockage of the Strait of Hormuz disrupts around one-third of globally traded urea and other key raw materials for fertilizer production, causing immediate product shortages and significant price increases. In its half-year disclosures dated 17 July it reported that the war caused a sharp increase in urea prices at the end of the European buying season and delayed the start of the new season in the Northern Hemisphere. It added that re-escalation of the conflict raises additional concern over supply for the next season.
"The blockage of the Strait of Hormuz disrupts around one-third of global traded urea and other key raw materials for fertilizer production, leading to immediate product shortages and significant price increases."
— Yara International (YAR.OL), Regulated disclosure, 2026-04-24
# Polymer prices and postponed irrigation purchases
1 of 29 companies
Jain Irrigation Systems disclosed on 19 August, and repeated on 17 September, that escalation of the West Asia conflict caused a sharp increase in polymer prices during March-April 2026. It said customers postponed purchases as a result, affecting volume in the domestic plastics and hi-tech businesses in the first quarter of fiscal 2027.
"The escalation of the West Asia conflict led to a sharp increase in polymer prices during March-April 2026, resulting in customers postponing purchases and affecting volume in the domestic plastics and hi-tech businesses in the first quarter of fiscal 2027."
— Jain Irrigation Systems (JISLJALEQS.NS), NSE Announcement, 2026-08-19
# Sources — wider web
- Commodity Price: Mideast war continues to disrupt fertilizer demand, prices, Nutrien CEO says - The Globe and Mail — theglobeandmail.com, 2026-08-07
- Commodity Price: Nutrien’s profits up on sales of potash, nitrogen as Middle East conflict cuts fertilizer supplies | Financial Post — financialpost.com, 2026-05-07
Demeter Public Companies Briefing · 2026-09-25 · grounded in companies' own filing disclosures.
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