Brazil May Plant Biggest Soybean Crop Ever: Fertilizer Co. Yara

Fertilizer sales in Brazil has surged with farmers taking advantage of the stronger purchasing power in the past decade, Lair Hanzen, CEO for Yara International in the Americas, said Monday at a press briefing.
  • “Brazil is getting ready to plant a new record soybean crop”
  • While the sharp decline of the Brazilian currency against the dollar boosted farm revenues in local currency, fertilizer priced in the greenback is the cheapest ever, he said
    • The BRL slump increases some production costs, including fertilizers, while revenue gains counter higher expenses
  • “Soybean and corn farmers’ financial health is in a very good shape,” boosting fertilizer sales
(Source Bloomberg)