When the US and Israel started bombing Iran earlier this year, market watchers eyed the oil markets nervously. But as the price of crude oil climbed, so did the price of another key commodity produced in the Gulf: fertiliser. Five months later, the world’s food system is looking better than feared, but as Adam Hanieh, director of the Middle East Institute at the School of Oriental and African Studies in London explains, the worst may yet be to come. Soumaya also assesses his prognosis with the FT’s agriculture correspondent Susannah Savage.
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Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner.
Read a transcript of this episode on FT.com