New industrial complex said to reduce Brazil’s fertilizer imports by 15%

Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, alongside President Luiz Inácio Lula da Silva, attended the inauguration ceremony of the Eurochem Mining and Industrial Complex in Serra do Salitre, a famous Minas Gerais mining region, on March 13th.

The complex will supply 1 million tonnes of phosphate fertilizers per year to Brazilian agriculture, helping to reduce Brazil’s dependence on fertilizer imports by 15%, in line with the goals of the National Fertilizer Plan (PNF) and the New Industrial Policy.

Currently, more than 87% of the fertilizers used in Brazilian crops are imported, costing the country $25 billion per year – money generates foreign exchange and jobs abroad instead of domestically. The PNF aims to achieve a domestic output that meets between 45% and 50% of domestic demand by 2050.

“That money (from imports) could have been paid to firms that generate employment and pay salaries here; that generate quality of life here,” said President Lula, celebrating the new venture.

Vice President Geraldo Alckmin considered the investment “extremely important” as the country will stop importing 15% of Brazilian phosphate fertilizer production.

Brazil’s fertilizer imports | Jan 2022 – Jan 2024 | WTMT

Source: DataLiner (click here to request a demo)

The minister emphasized that the announcement aligns with the objectives of the New Industry Brazil, an industrial policy launched by the government in January, focused on productivity, competitiveness, sustainability, and increasing export capacity.

Ministers Alexandre Silveira (Mines and Energy) and Carlos Fávaro (Agriculture) also attended the event.

Source: Taroba News

Click here to read the original news article: https://tarobanews.com/noticias/agro/novo-complexo-reduzira-importacoes-de-fertilizantes-em-15

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