Mosaic's Brazil unit sees fertilizer demand growing up to 10% in 2021

By Roberto Samora

SAO PAULO, July 9 (Reuters) – Mosaic Fertilizantes, a unit of Mosaic Co, sees fertilizer demand in Brazil growing by 6% to as much as 10% in 2021 if demand from corn farmers proves strong, an executive told Reuters.

Mosaic Fertilizantes head Corrine Ricard noted the strong negative effects droughts and frosts have had on Brazil's 2021 corn crop. But she said in an interview that recent difficulties could bump up fertilizer use as farmers push to produce as much as possible to compensate.

"The second harvest suffered from the drought and now the frosts, and I think that could lead some producers to double their efforts in the next harvest," Ricard said.

Recent setbacks have supported corn prices in Brazil even as they have fallen nearly 10% in July in the United States.

That will also push some farmers to be aggressive going forward, said Eduardo Monteiro, Mosaic Fertilizante's commercial vice president.

"Even with volatility in Chicago, in Brazil, prices are still strong," he said. "I think that producers will have more appetite to expand in the next harvest."

Mosaic Fertilizantes, which is active in the mining, production, import, sale and distribution of fertilizer products, has space to expand organically in Brazil, Ricard said.

"We have space to grow," she told Reuters. "That's very important, because the market is growing quickly, and we can continue to participate."

(Reporting by Roberto Samora; Writing by Gram Slattery; Editing by Dan Grebler)

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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