Brazil’s Union of Raw Materials for Fertilizers (Sinprifert) said in a report released on Thursday (9) that the sector anticipates investing BRL 21 billion over the next four years in order to decrease its reliance on foreign sources and boost domestic fertilizer output. Brazil has all the necessary conditions to enable a strong and structured national production, according to Bernardo Silva, executive director of Sinprifert. ” The Russian-Ukrainian conflict brought to light the vulnerability and unpredictability of our own supply,” Silva said. Brazil is a major player in the agricultural industry and imports around 85% of its fertilizers. The new funds should be used to construct new factories, reopen existing ones, and broaden the market to include the entire nation.
Source: DATAGRO (*Translated by Ia Niani)