Will there be any impact on farmers due to imposition of 20 percent toll on Hormuz, know the important thing here

Strait of Hormuz: For some time now there has been a stir all over the world regarding the Strait of Hormuz. America’s President amid increased tension in West Asia donald trump Had proposed to impose 20 percent toll on cargo ships passing through here. After this announcement, concern increased everywhere from the oil market to the shipping companies.

Because a large part of the world’s crude oil passes through this sea route. However, Trump later withdrew this proposal. After this, some relief was definitely seen in the market. But if this decision was implemented, its impact would not be limited to oil companies only. Know what effect such a decision could have on the pockets of farmers.

Heavy blow to diesel prices and farming costs

About one-third of the world’s crude oil passes through the Route of Hormuz. If the Trump administration had imposed a huge toll of 20% on this route. So the cost of transportation of goods for oil companies would have suddenly increased a lot. The result would have been that the crude oil coming to India would have become expensive and the prices of diesel in the country would have started touching the sky.

Diesel plays the biggest role in Indian agriculture, whether it is plowing the fields with tractors, irrigating crops with tube wells or pumpsets or transporting finished goods to the markets with tractor-trolleys. Due to diesel becoming expensive, the expenses of farmers on every work would directly increase. Due to which the cost of farming becomes very expensive.

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Increasing fertilizer crisis would have a negative impact on farming.

Apart from diesel, the second biggest blow of this toll would be to the fertilizer sector. India imports a large part of its requirement, especially the raw materials required for making urea, DAP and fertilizer, from Gulf countries. Due to the imposition of 20% extra charge on Hormuz, it would not only become expensive to bring these essential fertilizers to India.

In fact, due to the movement of ships being affected, the timely supply of fertilizer could also have stopped. In such a situation, there would be a huge shortage of fertilizer in the market during the sowing season or farmers would have to buy expensive fertilizer in black. It is a matter of relief that due to Trump’s change in decision, Indian farmers have been saved from this huge financial burden.

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