If something starts to shake on one side of the world, you can often feel it on the other side too. Especially when it comes to the highly nervous market for crude oil, gas, gasoline, diesel and their countless derivative products. Joachim Rukwied, the President of the German Farmers’ Association, warns of a “further increase in the price of fertilizers, which will cause the production costs of agricultural businesses to rise sharply.” And with it the prices for Groceries in the supermarket.
A shopping street in Germany and the Strait of Hormuz may be thousands of kilometers apart. But what is happening in the Persian Gulf is likely to soon be reflected in the prices for bread, butter and broccoli in this country.