--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20240627-brazils-fertilizer-sector-struggles-with-defaults/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Brazil’s fertilizer sector struggles with defaults Publication Date: 2024-06-27T18:00:58-04:00 Last Updated: 2024-06-29T03:22:15-04:00 Author: Elena Shalashnik (https://www.fertilizerdaily.com/author/shea2707/) Categories: [Corporate](https://www.fertilizerdaily.com/corporate/), [Markets](https://www.fertilizerdaily.com/markets/) ![Brazilian flag on missing puzzle.Crisis and recession impact in Brazil](https://www.fertilizerdaily.com/wp-content/uploads/2024/06/brazilian-flag-on-missing-puzzlecrisis-and-recession-impact-in-brazil-stockpack-istock-scaled.jpg) Delays and defaults persist in Brazil's agri-input sector, affecting resellers and manufacturers. A world-renowned Norwegian fertilizer producer, Yara International, reported delays in payments from distributors and cooperatives, including AgroGalaxy and Belagrícola, owned by Chinese company Dakang. The non-payments are linked to a BRL250 million Agribusiness Receivables Certificate (CRA) issued by Yara. The CRA ended on June 20, with nine companies defaulting on nearly BRL84 million, or one-third of the total. Yara stated the delays are market-related and not defaults, assuring compliance with its guarantor and securitization responsibilities, and expressed confidence in a short-term resolution. AgroGalaxy described the delays as “normal in agribusiness,” attributing them to mismatches in payment cycles, and is negotiating payment terms with Yara. Ecoagro, the CRA issuer, announced that five companies intend to pay their dues in July. If not received, Yara will cover the amount for CRA investors. In 2023, Yara’s net revenue was BRL18.1 billion, a 40% sales drop from 2022. Tags: [AgroGalaxy](https://www.fertilizerdaily.com/tag/agrogalaxy/), [Brazil](https://www.fertilizerdaily.com/tag/brazil/), [default](https://www.fertilizerdaily.com/tag/default/), [fertilizer](https://www.fertilizerdaily.com/tag/fertilizer/), [Yara](https://www.fertilizerdaily.com/tag/yara/), [Yara International](https://www.fertilizerdaily.com/tag/yara-international/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.