The Globe and Mail reports in its Tuesday, May 12, edition that a Toronto-Dominion Bank report says Canada is well-positioned to mitigate inflationary pressures on food production. A Canadian Press dispatch to The Globe reports that Canada's imports of fertilizer from the Gulf region are less than 5 per cent, compared with Mexico and the United States, which rely on 30 to 40 per cent. While high oil prices have garnered attention from the blockade of the Strait of Hormuz, the Iran war also impacts fertilizer supply. Fertilizers are experiencing shortages and rising prices due to halted tanker traffic. About one-third of global nitrogen and phosphate fertilizer shipments transit through the strait, leading to increased demand and higher global prices from alternative providers. But Canada may not face fertilizer-related inflationary pressures as severe as those in Asian and African countries, wrote TD economist and report author Anusha Arif. "Canada's position is distinct," Ms. Arif wrote in her report. "As the world's largest potash exporter, it supplies a nutrient that supports drought resistance and overall plant health." Saskatchewan's benchmark potash prices have remained essentially flat since Feb. 28, Ms. Arif said.