Reuters – Mosaic Fertilizantes, a unit of Mosaic Co., sees fertilizer demand in Brazil growing by six per cent to as much as 10 per cent in 2021 if demand from corn farmers proves strong, an executive told Reuters.
Mosaic Fertilizantes head Corrine Ricard noted the strong negative effects droughts and frosts have had on Brazil’s 2021 corn crop. But she said in an interview that recent difficulties could bump up fertilizer use as farmers push to compensate.
“The second harvest suffered from the drought and now the frosts, and I think that could lead some producers to double their efforts in the next harvest,” Ricard said.
Recent setbacks have supported corn prices in Brazil even as they have fallen nearly 10 per cent in July in the United States.
That will also push some farmers to be aggressive going forward, said Eduardo Monteiro, Mosaic Fertilizante’s commercial vice-president.
“Even with volatility in Chicago, in Brazil, prices are still strong,” he said. “I think that producers will have more appetite to expand in the next harvest.”
Mosaic Fertilizantes, which is active in the mining, production, import, sale and distribution of fertilizer products, has space to expand organically in Brazil, Ricard said.