ANDA, an association representing fertilizer companies in Brazil, said March 3 that local fertilizer stocks should last for three more months amid a major supply chain bottleneck related to Russia’s invasion of Ukraine and western sanctions on Belarus, an important producer.
ANDA’s forecast, which it said was based on reports from market players, came a day after Brazil’s Agriculture Minister Tereza Cristina Dias said stocks should last until October.
The association said in a statement that private companies are still able to transact with each other, but noted that sanctions on banks are affecting their ability to pay for produce. It also mentioned logistic disruptions in the Black Sea region, adding the market is currently looking for potential solutions.
