Jan 31, 2025
Brazil Imports Record Amount of Fertilizers in 2024
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Brazil imports approximately 80% of its fertilizer needs and 2024 recorded record imports.
According to the January edition of the Logistical Bulletin from Conab, in 2024, Brazil imported a record 44.3 million tons of fertilizers, which represents an increase of 8.3% compared to 40.9 million tons in 2023.
Most of Brazil's fertilizer imports enter the country through the southeastern ports of Paranagua and Santos, but the "Northern Arc" of ports are gaining market share. The Port of Paranagua imported 11 million tons of fertilizers in 2024 compared to 10.3 in 2023. The Port of Santos imported 8.88 million tons in 2024 compared to 8.56 million in 2023 and the "Northern Arc" of ports imported 7.52 million tons compared to 5.97 million in 2023.
It makes sense to import more fertilizers through the northern ports because they are closer to the area of expanding grain production in central Brazil.
The "Northern Arc" of ports are also gaining market share of Brazil's grain exports. In December, the northern ports were responsible for 34.8% of Brazil's soybean exports compared to 33.8% a year earlier. The northern ports have an even higher share of Brazil's corn exports.