The Brazilian Confederation of Agriculture and Livestock released a report on Tuesday stating that China has surpassed Russia for the first time to become Brazil's largest fertilizer supplier.
According to the data, from January to October this year, China's total fertilizer exports to Brazil reached 9.76 million tons, accounting for about 25% of Brazil's total fertilizer imports. The growth rate of China's fertilizer exports to Brazil has accelerated significantly, increasing by 51% year-on-year in the first 10 months of this year, while imports from Russia grew by only 5.6%.
Brazil's total fertilizer imports reached 38.3 million tons, up 4.6% year-on-year; the import value grew by 16%, reaching $13.2 billion (54.468 billion ringgit). In terms of import volume, Brazil's top five fertilizer suppliers are China, Russia, Canada, Morocco, and Egypt in that order.
In addition, in the first 10 months of this year, Brazil imported 863,000 tons of agricultural chemicals such as insecticides, herbicides, and fungicides, up 33% from the same period last year, of which 70% came from the Chinese market. The total import value of these products reached $4.67 billion (19.27 billion ringgit), up 21% year-on-year.
China's market share of agricultural products in Brazil is gradually increasing
Although China is still the main export destination for Brazilian agricultural products, as China-Brazil trade relations deepen, the market share of Chinese agricultural products in Brazil is also gradually increasing. In the first 10 months of this year, Brazil's total imports of agricultural products from China reached $6.1 billion (25.171 billion ringgit), a 24% increase compared to last year.
The Brazilian Confederation of Agriculture and Livestock stated that the supply structure of Brazilian agricultural production materials is undergoing changes, with fertilizer procurement being a key part of this transformation.