Media reports Russian fertilizer shipments to BRICS partner historically increase
Date
8/12/2024 6:36:30 AM
(MENAFN) Russia achieved a significant milestone in its fertilizer trade with Brazil, setting a new record for exports in July, according to RIA Novosti, which cited recent customs data from Brazil. In July, Russian fertilizer shipments to Brazil reached an unprecedented 1,140,000 tons, marking a month-on-month increase of 7.5 percent. The value of these exports also saw a notable rise, climbing 8 percent to $364.4 million, the highest level recorded since March 2023.
This surge in fertilizer exports solidifies Russia’s position as Brazil’s leading supplier of these crucial agricultural inputs. Brazil, renowned as the world's largest importer of fertilizers, has been relying heavily on Russian products to meet its agricultural needs. In addition to Russia's dominance, China has significantly increased its share in the Brazilian market. Chinese fertilizer exports to Brazil nearly doubled in July, reaching 783,400 tons.
Other major exporters to Brazil include Canada, which increased its shipments by 1 percent to 697,000 tons in July, while Egypt and Morocco saw reductions in their supplies. Egypt’s exports decreased by 29 percent to 290,000 tons, and Morocco’s fell by 7 percent to 281,000 tons.
Brazil’s heightened demand for fertilizers comes as the country, a key player in global agriculture, faces challenging weather conditions. The nation’s fertilizer imports reached a record high in June and July, with totals of 4.2 million and 4.5 million tons, respectively. This increase underscores Brazil’s ongoing efforts to ensure adequate agricultural productivity amid varying environmental challenges.
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