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This could have knock -on effects on already high global food prices
.
Brazil is the world's largest producer of coffee, soybeans and sugar, as well as the agricultural superpower most reliant on imported fertilizers
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The Latin American country imports about 85 percent of its fertilizers, with about a fifth from Russia
.
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The Latin American country imports about 85 percent of its fertilizers, with about a fifth from Russia
.
According to a report by the Russian state-owned news agency TASS on the 4th, the Russian Trade Ministry has proposed a complete suspension of fertilizer exports
.
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Brazilian President Bolsonaro said earlier: "Brazil's dependence on chemical fertilizers .
.
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is an issue that we attach great importance to
.
" Meeting with Putin
.
.
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is an issue that we attach great importance to
.
" Meeting with Putin
.
If Brazilian farmers have to pay high prices for fertilizers or reduce crop yields, the cost of producing Brazilian agricultural products is likely to rise, pushing up world food prices
.
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Brazil is also a major producer of corn and beef
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Higher food prices will push up the cost of animal feed, which in turn will increase consumer spending on meat and other animal products
.
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Higher food prices will push up the cost of animal feed, which in turn will increase consumer spending on meat and other animal products
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According to reports, long before the Russian-Ukrainian conflict, global fertilizer supplies were becoming tight, with prices for some products more than doubling last year
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Rising natural gas prices have hampered the production of ammonia needed to make nitrogen fertilizers, while Hurricane Ida in the United States has also reduced global production
.
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Rising natural gas prices have hampered the production of ammonia needed to make nitrogen fertilizers, while Hurricane Ida in the United States has also reduced global production
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Fertilizer industry analysts say the war in Ukraine and Western sanctions on Russia have made matters worse, raising the prospect of a chronic global supply shortage that will further fuel global inflation and hunger for the poor
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Commodities analysts at S&P Global said Russia, which produces about two-thirds of the world's ammonium nitrate, has announced a moratorium on exports until April in order to ensure supplies to domestic farmers
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Rising gas prices due to the conflict have also pushed up the price of ammonium nitrate
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Ammonium nitrate is commonly used to increase the yield of crops such as corn and wheat
.
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Commodities analysts at S&P Global said Russia, which produces about two-thirds of the world's ammonium nitrate, has announced a moratorium on exports until April in order to ensure supplies to domestic farmers
.
Rising gas prices due to the conflict have also pushed up the price of ammonium nitrate
.
Ammonium nitrate is commonly used to increase the yield of crops such as corn and wheat
.
Brazilian Agriculture Minister Teresa Cristina Dias said she plans to visit Canada this month to try to ease supply constraints
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Canada is the world's largest potash producer, followed by Russia and Belarus
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Canada is the world's largest potash producer, followed by Russia and Belarus
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The agriculture minister said Brazil's stocks could last until October
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But Brazil's National Fertilizer Association, which represents Brazil's fertilizer companies, warned that the country's fertilizer stockpile is only enough to last for three months
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But Brazil's National Fertilizer Association, which represents Brazil's fertilizer companies, warned that the country's fertilizer stockpile is only enough to last for three months
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The report concluded that the rising cost of fertilizers has also prevented Brazilian farmers from increasing grain production and making up for the shortfalls caused by the main growing regions Ukraine and Russia
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