Petrobras cancels Unigel deal
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Petrobras announced that the Industrialization to Order (Tolling) contract with Unigel Group, signed on December 29, 2023, has been terminated. The contract failed to meet its effectiveness conditions by the established deadline of June 27, 2024, and therefore, it was invalidated before taking effect.
The company emphasized that both parties are still exploring and evaluating a definitive, profitable, and viable solution for supplying fertilizers to the Brazilian market. This development is part of Petrobras’s broader strategy to reorganize its fertilizer operations as outlined in its Strategic Plan 2024-2028.
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It is alarming to see these developments in California. As a vineyard grower, I have faced significant challenges this year, with fertilizer costs rising sharply while market conditions have made it difficult to sell the harvest.
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