Food prices face 'significant' rise to address costs from Iran war, warns IFA president

Oil prices and fertiliser prices rise in fallout of Middle East conflict
Food prices face 'significant' rise to address costs from Iran war, warns IFA president

IFA president Francie Gorman has called for carbon tax to be suspended, amid surging energy prices faced by farmers, with the Government to announce reductions to energy taxes on Tuesday. Picture: Finbarr O'Rourke

Food prices will face "significant increases" to address added costs for Irish farmers and producers as the war in Iran endures, IFA president Francie Gorman has warned. 

The enforced closure of the Strait of Hormuz by Iran in response to attacks from Israel and the US has cripped movements of oil and fertiliser through the region, with a ripple effect for Irish producers.  “The reality is that there will be significant increases in food prices to address these cost hikes unless the Government does something meaningful to mitigate the situation,” Mr Gorman said.

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