Image: Pixabay
According to data from StoneX, the country consumes around 40 million tons of products per year, one third of which for each NPK group. When talking about nitrogen, 95% comes from imports from countries such as Russia, China and the Middle East; in phosphates, imports correspond to 75% from Russia, China and Morocco and in Potassium the percentage is 95%, from Russia, Belarus and Canada.
{module Form RD}
With the first attacks between Russia and Ukraine, this Thursday (24), the fertilizer market has already felt the impacts. The price of urea in the fertilizer derivatives market rose by 42% and phosphorus by 16%. The Minister of Agriculture, Tereza Cristina, said, during an event in Fortaleza (CE), that prices could rise even further due to the decrease in supply in the coming weeks. She also highlighted that Brazilian agriculture is observing the situation with concern.
Tereza Cristina said that Brazil will seek international political coordination in order to seek new suppliers. She was recently on a trip to Iran, which could also become a partner. She cited Canada and Morocco as countries that could also meet Brazilian demand.
“Brazil is an importer of fertilizers from several countries around the world. We have to see what will happen. Now, we have other alternatives to be able to replace if we have a problem in any of these countries”, he added.
By: Eliza Maliszewski | agrolink
