SAO PAULO Reuters - Brazilian fertilizer imports jumped 18.6% in June and by 4.15 million tons, quashing fears of delivery disruptions due to trade sanctions on key suppliers.
Brazil, which imports about 85% of its fertilizer needs, should have enough inputs to plant summer crops like soybeans and first corn starting in September, according to the data.
After sanctions against major producers in Belarus and Russia, there was speculation that Brazilian farmers could face a shortage of nutrients to nourish key crops, leading to reduced applications and slower grain area expansions.
Brazilian diplomats are trying to secure deliveries after Russia invaded Ukraine and strong trade flows are evidenced by strong trade flows.
Agriculture Minister Marcos Montes said at a recent event that President Jair Bolsonaro's action was decisive on the issue of fertilizer supply, adding: We don't anticipate supply disruptions this harvest, which we feared so much. Farmers are guaranteed with the imports of 4.15 million tonnes in June and an expected reduction in fertilizer use on the next soybean crop, according to Jeferson Souza, an analyst with Agrinvest Commodities.
This is the highest volume of imports for the month of June in the past five years, and it also marks the second consecutive month this year that imports have risen above 4 million tons, according to data compiled by Souza.