Analysis: Now importing 85% of its fertilizers, Brazil launches plan for local production

According to the Ministry of Agriculture, the foreign share will be reduced from 85% to about 60% over the next 30 years. This will not solve the current crisis that will affect the 2022/2023 harvest, but it may minimize future global supply/demand shocks.

RIO DE JANEIRO, BRAZIL - Brazil's federal government will launch a national fertilizer plan in December amid escalating prices for these products worldwide. The objective of the set of guidelines is to reduce the country's extreme dependence on international suppliers.

In some cases, imports amount to 95% of what the country needs, which leaves agribusiness, the main weight in the Brazilian trade balance, very susceptible to international crises, such as the current one.

According to the Ministry of Agriculture, the foreign share will be reduced from 85% to about 60% over the next 30 years. This will not solve . . .

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