Economist Justin Wolfers highlighted the potential for rising food prices due to disruptions in the Strait of Hormuz, which are currently affecting oil prices and fertilizer costs. In a recent post on social media, he emphasized that the focus on oil might overshadow the looming food crisis. Fertilizer prices, particularly urea, have skyrocketed, doubling to approximately $900 per metric ton since February 2026. This increase is alarming given that about one-third of the global nitrogen fertilizer trade relies on the Strait of Hormuz. The World Bank has projected that fertilizer prices could rise by 31% in 2026, exacerbating affordability issues for farmers and potentially leading to reduced farm income and lower future harvests. If geopolitical tensions continue, the World Bank warns that up to 45 million more people could fall into acute food insecurity this year. Additionally, a recent poll indicated that 48% of Americans experienced higher-than-expected grocery prices in March 2026, reflecting the broader economic pressures stemming from these developments.