Ships carrying Russian fertilizers find way to Brazil despite sanctions By Reuters

By Ana Mano

SAO PAULO (Reuters) – Regardless of concern that sanctions towards Russia would trigger a shortfall of fertilizer in Brazil, preliminary transport information exhibits orders being fulfilled and vessels heading for Brazil, doubtlessly permitting a traditional grain planting season.

No less than 24 vessels carrying virtually 678,000 tonnes of Russian fertilizers from ports within the nation are anticipated to succeed in Brazil within the subsequent weeks, in accordance with preliminary transport information compiled by Agrinvest Commodities and seen by Reuters on Monday.

Regardless of sanctions towards Russia after its invasion of Ukraine, the information present 11 of the 24 vessels left ports together with Saint Petersburg and Murmansk after Feb. 24, when the warfare began. Most are carrying potassium chloride used on soy and corn fields.

Brazil relies on fertilizer imports.

The Pebble Seaside, with a 35,000-tonne potassium chloride load, was the most recent to go away Russia on Apr. 4 en path to Vitoria port in Brazil’s Southeast, the information confirmed.

A fertilizer dealer stated offers have been nonetheless attainable as international models of Russian corporations proceed to fill orders, whereas banks untouched by Western sanctions course of the funds.

Brazil’s general imports of fertilizer and uncooked supplies used to make plant vitamins rose by 24.57% to 9.795 million tonnes within the first quarter, in accordance with information from Siacesp, an trade group. Potassium chloride imports alone jumped 41.75% to three.080 million tonnes.

These volumes present that Brazil stored shopping for at the same time as costs soared and the warfare threatened to disrupt gross sales from corporations in Russia and Belarus. Delays or a scarcity of fertilizer would imperil Brazil’s summer time grain season that can start within the ultimate quarter of 2022.

The highest three suppliers of potassium chloride to Brazil within the first quarter have been Canada’s Canpotex, whose shareholders are Mosaic and Nutrien (NYSE:), the Belarusian Potash Firm and Russia’s UralKali, in accordance with Siacesp.

Mosaic, Norway’s Yara and Brazil’s Fertipar have been the highest three importers of the chemical, bringing in a mixed 1.3 million tonnes between January and March, the information confirmed.

Fertilizantes Tocantins, owned by Russia’s privately owned Eurochem, additionally imported some 231,753 tonnes of potassium chloride within the interval, representing 7.52% of the full.