Fertilizer prices climbed in 2021, particularly Potassium Chloride, driven by strong demand. “In the last week there was an increase of 22.5% in the international market. China exported large volumes to India and Bangladesh, reducing the availability of the product. According to Globalfert, Brazil is discussing with Canada and Russia, seeking to supply the high demand. “The CFR Brazil price reached the highest level since April 2020, US$ 258/t, up 5% from the same period last year”. Brazilian imports of Potassium Chloride in May totaled 826 thousand tons, down 3% from the average of the last three years. Canada is the top exporter (34%), followed by Russia and Belarus, with 33% and 21%, respectively. Israel (4.2%) proved to have the most competitive average price, with the highest average price coming from Russia. In this scenario, the main ports of entry in Brazil were Paranaguá, with 34% of total imports, and Santos, with 27%.
Source: Agrolink (*Translated by Ia Niani)