The average price of fertilizers fell in June, improving the purchasing power of fertilizers by Brazilian farmers, according to the IPCF index calculated by the multinational in the sector Mosaic.
The indicator reached 1.69 points in June, against 1.75 in May and 1.87 in April.
The lower the value, the better the purchasing power.
The indicator, released this Tuesday by the company, is monthly and consists of the relationship between the prices of fertilizers and agricultural commodities, such as soya, corn, sugar, ethanol and cotton.
In June, the IPCF was still at a historically high level, but lower than in previous months, although it surpasses the 1.04 mark in the same month of 2021.
Western sanctions applied to Russia for its attack on Ukraine have created a number of uncertainties about global fertilizer availability this year.
The Russians are the main suppliers of raw material for fertilizers to Brazil, a country that imports around 85% of its needs, generating a race among Brazilian producers to close business for the import.
However, fertilizer deliveries continued.
In the first half of the year alone, fertilizer imports by Brazil increased by around 13%, according to a survey by the maritime agency Cargonave released this month.
In the world, uncertainty about the supply of inputs, in addition to prices having reached very high levels, which generated a downward movement in quotations that impacted the indicator of the purchasing power of fertilizers by the Mosaic farmer.
Sources: investing.com
