The consultancy MacroSector said on Thursday that fertilizer imports by Brazil are expected to increase 7.5% in 2021, while sales will grow 4.5% in the wake of a surge in agricultural income. Brazil, which imports most of its fertilizer, will close 2021 with foreign purchases of 35.3 million tons, over the estimated amount of 32.85 million tons for 2020. Domestic sales, on the other hand, will grow to a record 41.65 million tons, compared to an estimated amount of 39.86 million last year. The production of fertilizers in Brazil, in turn, will decline to 6.1 million tons, against 6.4 million in 2020. The growth in the use of fertilizers in Brazil is due to the good performance of the agricultural sector, whose revenue was estimated to grow to around R$ 719 billion in 2021, an increase of more than R$ 200 billion when compared to 2020, with a growth driven by the soybean crop, as well as better prices, said MacroSector.
Source: Reuters (*Translated by Ia Nini)