Brazil's Fertilizer Imports Rose By 15% in The Past 7 Months

According to Brazilian media reports, Brazilian bank Itau BBA disclosed in a report that from January to July this year, Brazil's fertilizer imports increased by 14.7% to 21.8 million tons, and imports of fertilizers from Russia accounted for 24% of total purchases. An increase in Brazil's fertilizer imports has eased concerns about product availability. With the recent drop in fertilizer prices in the market, it is expected that Brazilian agricultural producers may delay their purchases of fertilizers, which will lead to an increase in the stockpiles of fertilizers in ports, and high inventories can meet the concentration of delivery periods and thus reduce monthly imports. Such a situation will last until the end of the year