Brazil announced a national fertilizer plan to reduce imports by 40% by 2050. The program will introduce new fiscal rules and support private companies to expand local output capacity. The country imports 85% of its fertilizer needs. The government has been improving its fertilizer import logistics in the short term.
Brazil will also present a proposal to the UN’s Food and Agriculture Organization (FAO) on March 16 to exclude fertilizer products from any Russian sanctions. Brazil’s Agriculture Minister Tereza Cristina Dias said Argentina, Bolivia, Brazil, Chile, Paraguay and Uruguay supported the proposal.
Dias recently met with Middle East nations seeking more fertilizer imports. Currently, Brazil purchases 26% of its fertilizer from the Middle East.
