Projections released by the Brazilian Institute of Geography and Statistics (IBGE) indicated that fertilizers were the most imported chemicals in the first two months of the year, registering 41.4% in quantities (4.4 million tons) and 64.1% in value (US $ 1.3 billion). In this scenario, the accumulated deficit of the trade balance of chemical products reached US $ 4.9 billion in the first two months of the year. According to the chief executive of the Brazilian Chemical Industry Association (Abiquim), Fernando Figueiredo, the strong rhythm stands out mainly where natural gas is used as energy or raw material. “Brazil, which was already a priority target for spawning surplus products with the commercial war between the United States and China, will be even more impacted if the problems of high energy costs and strategic inputs for the sector are not solved quickly , which prevent Brazilian companies from competing in the domestic and international markets”, he said. Abiquim also said that this figure indicates an increase of 31.4% over the same period of last year, with imports of chemicals totaling US $ 3.3 billion in February, a 16% compared to the same month last year.
Source: Global Fert