Stock Groups

Brazil’s Bolsonaro pushes fertilizer project as he warns of shortage By Reuters

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Brazil’s President Jair Bolsonaro meets supporters at his New York hotel, U.S.A, September 21st, 2021. REUTERS/Stephen Yang/File Photo

(Reuters) – Brazilian President Jair Bolsonaro stated on Thursday that his government would develop a project to increase the country’s fertilizer production and reduce its dependence on imports.

Bolsonaro, speaking during his weekly social media broadcast, did not offer any information about the project. However, he said that it would be presented next year and will help improve Brazil’s raw material use.

Bolsonaro, an earlier speaker at a Brasilia event on Thursday said that he anticipated a shortage in fertilizers next season.

Bolsonaro warned that China started to produce less fertilizer in the wake of the energy crisis. This has caused the prices to rise and it is now a full year before the deadline. Bolsonaro warned that it will increase more and there would be shortages.

Brazil is the source of one plate for every five food items in the world. “We will have problems (with fertilizers supply) next year,” he said.

According to UN COMTRADE, Brazil imported $8.71 Billion of fertilizers between 2010 and 2020. Sixty-four million of those fertilizers were imported from China.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]