Russian fertilizer exports to BRICS partner hit all-time high – media
Russia supplied a record volume of fertilizers to Brazil in July, the news agency RIA Novosti reported on Saturday, citing customs data from the South American nation.
Brazil, the world’s leading importer of soil enhancers, exceeded a million tons of Russian fertilizer imports in three consecutive months through July, when shipments reached an all-time high of 1,140,000 tons, marking month-on-month growth by 7.5%. In monetary terms, exports of Russian fertilizers to the BRICS partner reportedly increased by 8% to $364.4 million, the highest since March 2023.
Russia remained Brazil’s number one supplier of fertilizers, the news agency said, adding that China has been increasing its share as well. In July, Chinese supplies nearly doubled to 783,400 tons.
The list of the largest fertilizer exporters to Brazil also includes Canada, which increased shipments in July by 1% to 697,000 tons. Egypt and Morocco, meanwhile, both saw supplies to Brazil decrease, by 29% to 290,000 tons and by 7% to 281,000 tons, respectively.
Brazil, a major global agricultural producer, has been ramping up purchases of fertilizers in recent months due to increasingly challenging weather conditions, the news agency noted, adding that imports in June and July totaled 4,200 000 and 4,500 000 million tons, respectively, marking a record for these months.
Russia and Brazil have been expanding economic ties as mutual trade within the BRICS group continues to grow despite Western sanctions. Earlier this year, Brazil’s ambassador to Russia, Rodrigo de Lima Baena Soares, said that bilateral trade between the nations had hit a record high of $11 billion. The South American nation only recognizes sanctions issued by the UN Security Council, meaning it does not comply with the restrictions imposed on Russia.
Earlier this year, Russian fertilizer producer EuroChem launched a new facility in Brazil with annual production capacity of one million tons of advanced phosphate fertilizers. The company invested around $1 billion in the project, which it acquired from Norway’s Yara in early 2022 while it was still being built.
