Brazil’s total fertilizer demand to reach 46 million tonnes in 2024 – Mosaic

The Mosaic Company expects Brazil’s total fertilizer demand to reach 46 million tonnes this year, Reuters reported this week, quoting one of the firms executives.

That figure would surpass last year’s estimated demand of 45 million tonnes, and the record 45.8 million tonnes registered in 2021, the news agency said.

Mosaic’s country manager in Brazil, Eduardo de Souza Monteiro, told Reuters that the nation’s corn producers are feeling more optimistic after the rains returned to producing areas such as the Midwest and the Matopiba region.

Brazil has been suffering one of the worst droughts in its history. This prompted farmers to delay their fertilizer purchases ahead of the corn-planting season, which normally begins early in the year.

While observers had forecast that the severe weather would result in a smaller planting area for the country’s second corn crop, the Mosaic executive said that he does not believe that the predicted 5% to 10% reduction in the planted area will materialize.