Fertilizer imports grew in Brazil despite the war in Ukraine

Contrary to major trends in the international market, Brazil has increased its fertilizer imports from Eastern Europe despite the ongoing war in Ukraine. As a result, the imports of these inputs grew 10% in April compared to the same month last year, exceeding two million tonnes.

Felipe Serigati, an economist at the Center for Agribusiness Studies at Fundação Getúlio Vargas (FGV), explained such a growth in an interview with CNN. “Several consignees here in Brazil have anticipated their fertilizer orders. In addition, this very anticipation increased the price of fertilizers, which were already operating at high levels.”

Check below the track record of Brazilian fertilizer imports from Russia, its main supplier of the product. The period analyzed includes the entire year of 2021 and 2022 until its second month. The data are from DataLiner.

Brazilian Fertilizer Imports from Russia |Jan 2021 – Feb 2022 | WTMT

Source: DataLiner (click here to request a demo)

“It is also important to point out that new transactions are still on the make. For example, there are companies, whether Belarusian or Russian, that have subsidiaries in other countries, and it is still possible to secure new transactions with these subsidiaries,” he added.

Another attention-grabbing factor is the price of fertilizers, whose tonne increased by 126% in one year.

Source: CNN

To read the full original article, please go to:

https://www.cnnbrasil.com.br/business/mesmo-com-guerra-na-ucrania-importacao-de-fertilizantes-cresce-no-brasil/

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