"Comparisons are frequently drawn with the food price shocks of 2007-08 and 2022, when surging energy costs helped drive fertiliser and freight prices higher, amplifying wider disruptions to trade and pushing up the cost of basic staples. Yet the current moment differs from those earlier crises in one crucial respect. During the past two decades, Gulf monarchies such as Saudi Arabia, Qatar and the United Arab Emirates have come to occupy a far more central place in the global food economy than is often recognised.
The Gulf states now shape the production and circulation of food directly, supplying key chemical inputs, exporting large volumes of finished fertilisers and controlling the logistical corridors through which food and agricultural commodities move across much of the Middle East, central and east Asia and Africa.
That deeper integration with the global food system is what makes the ongoing conflict both different from, and potentially far more serious than, earlier price shocks. A shock in the Gulf can now cascade rapidly through the supply chains that carry food from the farm to the shelf. Any prolonged disruption in the region can therefore spread far more widely, whether this is because of the closure of key maritime corridors, higher freight and insurance costs, interruptions at ports and re-export hubs or damage to energy and industrial infrastructure. "
https://www.ft.com/content/36343e24-b06f-434d-a7e5-6046e7bcf3df



