The escalating conflict in the Middle East is having a direct impact on China’s access to sulphur – a raw material for producing fertiliser – just as the country enters its vital spring planting season. With China sourcing a large chunk of its sulphur from the Persian Gulf, the effective closure of the Strait of Hormuz is already sending prices for the chemical shooting upwards as Chinese buyers complain of tightening supplies. China relies on imports for 47 per cent of its sulphur supply,...