Fertilizer imports reached US$ 934.9 million in February
Brazil
Decrease in prices of fertilizers. According to the National Association for the Diffusion of Fertilizers, there was a 70% reduction in the value of the input. Production is expected to exceed 46.4 million tonnes, surpassing 2021. Values have dropped by an average of 70% for nitrogen and 60% for phosphorus and potassium chloride since the price peak occurred because of the war between Russia and Ukraine. For Leonardo Sodré, CEO of GIROAgro, food production should benefit from the reduction. “With deflation, we observed a significant recovery in the sector and the biggest beneficiary will be the final consumer, with cheaper food”, says Sodré. (ANDA; GIROAgro)
In compliance with court decision, Anvisa approves toxicological evaluation of clethodim + haloxyfop-P-methyl (Tecnomyl), 2,4-D (Red Surcos), propamocarb hydrochloride + dimethomorph (Tradecorp), and amicarbazone + 2,4-D (Iharabras). (Anvisa)
Anvisa approves toxicological evaluation of a new technical product based on isocicloseram, active ingredient not yet registered in the country. It is an insecticide from Syngenta, that plans to sell formulated products based on this active ingredient by the end of the year. (Anvisa; Syngenta)
MAPA released a summary of pesticide registration requests of 50 formulated products, that are 25 insecticides, 13 herbicides, 10 fungicides, 2 nematicides, 5 acaricides, and 1 biological control agent. (Ministry of Agriculture)
Pesticide registration holders should pay more than US$ 15.27 million to Ibama for registration maintenance (PPA) anual fee of already registered products in 2023. (Flavio Hirata, partner at AllierBrasil)
Sarah Favoretto Bertola is Syngenta’s new “Latam seeds transformation lead“. (Syngenta)
Demand for fertilizers should grow 4% in 2023 compared to the previous year, reaching 44.5 million tonnes. “This increase will be driven by the decrease in international prices of inputs, after the crisis caused by the war between Ukraine and Russia in 2021”, highlights Fábio Pizzamiglio, director of Efficienza, a company specialized in foreign trade. To meet the demand, Brazil depends on imports from countries like China, Morocco, Russia, Canada, and the USA. (Efficienza)
Fertilizer imports reached US$ 934.9 million in February, with a daily average of US$ 51.940 million. Total imported quantity reached 2.104 million tonnes, with an average of 116.891 thousand tonnes. Average price per tonne was US$ 444.30. Decrease of 39.2% in the average daily import value compared to February 2022, with a 24.2% loss in the average daily imported quantity and a 19.7% devaluation in the average price. (Secretariat of Foreign Trade)
Galvani reached record production of phosphate concentrate in January, with 24 thousand tonnes. Company is investing US$ 38.65 million to double its production in Luís Eduardo Magalhães, State of Bahia, going from 600 thousand tonnes of fertilizers to 1.2 million tonnes/year. (Galvani Fertilizantes)
In the last month foreseen by EuroChem for the auction for the public offer for the acquisition of shares (OPA) of Fertilizantes Heringer, a group of 100 minority shareholders reinforced their position against the offer of US$ 3.67 per share plus inflationary adjustments. The group claims to own 10% of the company’s share capital and one-third of the outstanding shares, and claims that it will not sell the stakes under current conditions. The LK Advogados office was hired to question “possible irregularities carried out by the management appointed by EuroChem, as well as defects and incomplete information in the formulation of the appraisal reports for the tender offer proposal for Fertilizantes Heringer”. (LK Advogados; EuroChem)
62% of the estimated volume of fertilizers for the first half of 2023 has already been sold, 21% more than in the same period of 2022. Decrease in fertilizer prices in recent months has led to an acceleration in purchases of inputs by Brazilian farmers. (StoneX Consulting)
Latin America
Value of imports of chemical fertilizers from Latin America and the Caribbean increased by 137% in 2022. 15 of the 18 countries in the region showed decreases in the volume of fertilizers imported between June 2021 and June 2022. Most countries showed a 15% drop in imported quantity, but increases of between 100 and 155% in import values in US$/tonne. (IICA)
Government of Argentina inaugurated the National Observatory of Agricultural Inputs, with the aim of streamlining the import of fertilizers and other critical inputs for the agricultural sector. (Ministry of Agriculture)
Seized in Ecuador shipment of 22 tonnes of fertilizers bound for the Netherlands. Product was mixed with cocaine. (National Police of Ecuador)
Ministry of Agrarian Development and Irrigation of Peru announced the beginning of the payment of Fertiabono II, an economic subsidy for small farmers to purchase fertilizers. Measure should benefit up to 173,000 farmers with properties of up to five hectares, and could reach US$ 623 per farmer. (Midagri)
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