Brazil is importing record amounts of fertilizer for its massive soybean crop, relieving concerns about supply chain disruptions for products from Russia, its No. 1 supplier.
There was worry that the South American nation wouldn’t be able to get enough fertilizer because of sanctions against Russia for the war in Ukraine, as well as shipping chaos that’s unfolded in the region. Brazil is the world’s biggest shipper of several crops including soybeans, and a shortfall of fertilizers could result in smaller harvests. That would drive up food prices around the globe, which are already at all-time highs, pushing more people into hunger.