Brazilian Agriculture Minister embarks to Canada in search of fertilizers

RIO DE JANEIRO, BRAZIL – The Brazilian Minister of Agriculture, Tereza Cristina, embarked to Canada last Saturday night, March 12, to search for more fertilizers for Brazilian farmers. The minister will meet with business people and government representatives to discuss the possibility of increasing potassium exports to Brazil. Although the schedule involves governmental aspects, the minister’s focus is on the private sector, to whom she is willing to offer facilities to ship the product to Brazil.

“The trip is to talk to Canadians to see if we can get a larger quantity than they already send us, to supply these possible supply bottlenecks we may have due to the conflict between Russia and Ukraine,” she said. The trip to Ottawa includes meetings with CEOs of potash-producing and exporting companies installed in the country and with representatives of the Canadian government.

On Sunday, March 13, the minister met with the board of directors of Brasil Potash. On Monday, March 14, a meeting is scheduled with the Vice-Minister of Agriculture of Canada, Paul Samson. The minister will also have meetings with the presidents of Gensource, Nutrien, Canpotex, and Fertilizer Canada.

Agriculture worldwide depends on fertilizers to maintain current levels of crop productivity. The production of these fertilizers depends on three key elements: nitrogen, phosphorus, and potassium. Nitrogen is supplied from ammonia, produced from nitrogen in the air, and natural gas. Currently, 40% of Europe’s gas supply comes from Russia. About 70% comes from mines in Canada, Russia, and Belarus. The potash market is even more concentrated.

Brazil is the fourth-largest global consumer of fertilizers, accounting for about 8% of this volume, and is the world’s largest importer. The country imports about 85% of all the fertilizer used in national agricultural production. In the case of potash, the imported percentage is about 95%.

With information from Bloomberg Línea