Fertilizer deliveries to Brazilian rural growers increased in 2023 after declining in 2022 and will continue to rise in 2024. Mosaic’s country manager in Brazil, Eduardo de Souza Monteiro, estimates that deliveries amount between 44.5 million and 45 million tons in 2023. According to data from the National Association for the Diffusion of Fertilizers, there were 41.1 million tons in 2022, 10.5% less than in 2021. Fertilizer costs fell after the increase that caused the ton to reach USD 1,000 in 2022, making room for the predicted recovery this year. Monteiro noted that, following years of strong profitability, the store of fertilizers in the soil of the country’s farms was typically high, allowing for a reduction in applications without significant productivity losses.
Source: InfoMoney (*Translated by Ia Niani)