# Hormuz situation could drive grain prices up by as much as 80% — ICC

https://mins.news/en/item/86024

- TASS, 2026-10-05 07:29 UTC
- Economy
- Original: https://tass.com/world/2197527

> The International Chamber of Commerce says grain prices in some regions could climb by up to 80% if shipping restrictions through the Strait of Hormuz continue. ICC Secretary General John Denton said disruptions have affected nearly 40% of global fertilizer trade and removed about 2.7 million metric tons from the market, leaving import-dependent countries such as the Philippines especially vulnerable.

## Related coverage

- [Oil prices rise as flows through Hormuz increase](https://mins.news/en/video/89964) — Bloomberg Television, 2026-10-07
- [Black Sea at its most dangerous since Russia’s war began, choking global grain trade](https://mins.news/en/item/83083) — CBC News, 2026-10-02