RIO DE JANEIRO, BRAZIL – Fertilizer imports by Brazil should increase 7.5% in 2021, while sales in the country will grow 4.5% in the wake of a surge in agricultural income, pointed out consultancy MacroSector on Thursday, April 22.
Brazil, which imports most of its fertilizer consumption, will close 2021 with foreign purchases of 35.3 million tons, versus 32.85 million tons estimated for 2020, the consultancy said in a report.
Domestic sales will grow to a record 41.65 million tons, compared to an estimated 39.86 million tons last year.
The consultancy’s expectation was slightly below the projection of another analysis company, StoneX, which pointed last week to an increase to 42.3 million tons in deliveries in the country, citing anticipation in the business and strong imports.
Meanwhile, fertilizer production in Brazil will fall to 6.1 million tons, versus 6.4 million in 2020, MacroSector predicted.
The growth in fertilizer use in Brazil is associated with the performance of the agricultural sector, whose revenues were estimated to grow to around R$719 (US$128) billion in 2021, an increase of more than R$200 billion versus 2020, with growth driven by the soybean crop, as well as better prices, MacroSector pointed out.
In the case of corn, despite a practically stable production, revenues should rise to R$134.8 billion, versus R$89.6 billion last year, estimated the consulting firm.