Brazil has enough stock of fertilizers until October
In a press conference on Wednesday (Mar. 2), the Minister of Agriculture, Livestock and Supply Tereza Cristina declared Brazil has enough fertilizers for the agribusiness sector until October. She assured there are no problems with the crop now, however, the summer crop whose planting begins at the end of September and October raises concern.
According to the minister, the second crop of corn is in progress which means the fertilizer has already reached rural producers. “No problem so far. But the summer crop is a concern,” she said. The Brazilian private sector has confirmed there is sufficient stock of fertilizers until October.
The warning about the international fertilizer market started in February when economic sanctions against Belarus began. Exports to Brazil have been suspended due to the closing of Lithuania's ports for fertilizers, and now with Belarus’ support towards Russia regarding the war against Ukraine, the eastern European country has suffered new sanctions.
The situation has worsened with the beginning of the war since Russia is the main fertilizer supplier to the Brazilian market.
Negotiation with Canada
Amid the crisis, the Brazilian Agriculture Minister is going to Canada to negotiate the import of fertilizers. According to her, the impact on consumers depends on how long the war will last. Should there be a lack of the product, food prices shall have an increasing tendency. “The price of wheat has risen significantly because Ukraine is an important producer and that influences the global market. So “we have to monitor and reduce the impacts,” she said.
Currently, Brazil is the fourth global consumer of fertilizers and 80 percent of its consume come from other countries.
US and EU economic sanctions against Russia and Belarus have hit potash production, and most fertilizers are made out of potash. Russia is responsible for supplying about 25 percent of fertilizers used in Brazil.
