ICC Sought UN Deal for Fertiliser Shipping
The chamber is pushing for a UN-backed corridor to secure vital fertiliser shipments through the Strait of Hormuz.
Updated on Sept. 30, 2026 in International Trade
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The International Chamber of Commerce is working to establish a UN-led agreement to protect fertiliser shipments passing through the Strait of Hormuz. Disruptions in the Gulf have caused supply bottlenecks and price spikes, threatening agricultural stability for importing nations.
Why it matters
One-third of the global seaborne fertiliser trade relies on the Strait of Hormuz, making the region a critical choke point for food security. Restricted access threatens crop production and increases risks for nations across Southeast Asia that depend on these imports.
One-third of global seaborne fertiliser trade passes through the Strait of Hormuz. Impacts on crop production typically manifest over a 12-month period.
The players
International Chamber of Commerce
This institutional body represents businesses in more than 170 countries and works to facilitate global trade and policy.
United Nations
The international organization is being called upon to mediate a shipping agreement between the United States and Iran.
John Denton
He serves as the primary representative for the International Chamber of Commerce during trade negotiations.
The details
The International Chamber of Commerce proposes a trade corridor modeled after the Black Sea Grain Initiative to resolve supply bottlenecks. A successful outcome depends on a formal agreement between the United States and Iran that is overseen by the UN secretary general office.
Timeline
John Denton addressed fertiliser supply concerns at a trade forum on September 30, 2026.
Singapore is scheduled to serve as the Asean chair starting in 2027.
Market Dynamics
The International Chamber of Commerce is working to replicate the Black Sea Grain Initiative by establishing a protected trade corridor in a highly volatile region. This effort follows a pattern set by previous UN-led shipping agreements designed to maintain global food supply chains.
Restricted fertiliser access and potential price surges threaten the operational costs of agricultural sectors globally, impacting commodity markets and institutional portfolios. Investors should watch for shifts in maritime shipping agreements that could stabilize prices and production cycles.
The takeaway
Securing maritime trade routes is essential to preventing food insecurity as fertiliser supply constraints compound with climate events like El Nino. Nations must balance domestic subsidies with international cooperation to mitigate the long-term impact on global crop yields.
What happens next
Singapore will officially assume the position of Asean chair in 2027, where trade and food security policies are expected to be key items on the agenda.
Further reading
Learn more about the current status of global supply chains in our International Trade section.
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