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Inflation to Tamp Down Fertilizer Use in Top Importer Brazil

  • Farmers seen cutting consumption by 7% in 2022, says StoneX
  • Less fertilizer raises weather risks for soy and corn crops

Fertilizer demand in top importer Brazil is expected to fall for the first time in eight years, boosting weather risk for corn and the world’s biggest soy harvest.

Brazilian farmers will probably consume 7.2% less fertilizers in 2022 due to higher costs, according to an estimate from StoneX. Producers will take advantage of nutrients that remained in soil from previous seasons, especially phosphorus and potassium.