FAO: Hormuz Strait Shipping Disruption to Cut Global Food Output

The FAO's framing matters because it shifts the Hormuz disruption from a near-term logistics and price story into a multi-season agricultural one: inputs and shipping are the transmission channel, so the hit lands on planting decisions, not just spot trade. The countries named as already facing severe food crises are the most exposed, since they have the least buffer to absorb either higher import costs or tighter supply. The open question is whether the disruption persists long enough to be priced into the next planting cycle, or eases before it does.