Brazil’s lower house approved legislation creating the Fertilizer Industry Development Program (Profert), which would provide up to R$10 billion in tax credits between 2027 and 2031 for new fertilizer projects and the expansion or modernization of existing plants. Annual incentives will be capped at R$2 billion, alongside up to R$1 billion in AFRMM exemptions over the program period. The bill also authorizes a dedicated investment fund and BNDES-backed financing lines for eligible projects. The initiative aims to reduce Brazil’s dependence on imported fertilizers from roughly 85% today to 45% by 2050. The proposal introduces a gradual mandatory blending requirement for domestically produced fertilizers, reaching 10% by 2037, and now returns to the Senate for final consideration after amendments approved by the Chamber of Deputies.
Source: Agência Câmara de Notícias