Fertilizer carryover stocks in Brazil could reach 10.3 million tons by the end of the year, on December 31. The figure exceeds the 8.4 million tons accumulated in 2022, according to an analysis by Argus consultancy. The volumes of potash-based fertilizers delivered to the Brazilian market intensified throughout 2023, owing mostly to soybean and corn crops. “Purchases of nitrogen-based fertilizers are likely to increase in early 2024. This is because farmers are postponing their deals for the winter corn crop, hoping for a decrease in the trade ratio”, said the company. Argus’s projections suggest that fertilizer deliveries to farmers could reach 44.3 million tons in 2023.
Source: Revista Globo Rural (*Translated by Ia Niani)