Dubai – MENA Herald: The Arab region has witnessed an unprecedented rise in fertilizer exports to Brazil for the first quarter this year with a total of 1.14 million tonnes, an increase by 69 per cent from the 675 tonnes imported in January to April in 2015. Brazil and fertilizer-producing Arab countries continue to enjoy strong trade relations, particularly in agriculture and minerals, according to the Arab-Brazilian Chamber of Commerce (ABCC).
In April alone, fertilizer imports soared by 70 per cent, from 215,500 tonnes traded in April 2015 to 364,400 tonnes last month. Brazil has produced a total of 2.7 million tonnes of fertilizers from January this year and has imported a total of 5.65 million tonnes – up by 3.5 per cent – from 5.46 million, compared to its imports during the same quarter last year.
Dr. Michel Alaby, Secretary General and CEO, Arab-Brazilian Chamber of Commerce said: “Fertilizers enjoy the second largest import from the Arab World to Brazil, next to minerals and oil. The region’s fertilizer producers have continued to play a vital role in Brazil’s agriculture growth, and the food commodities worldwide. The first quarter results only signify profitable growth for this year, with the fertilizer market making a significant contribution to strengthen the economic ties between Brazil and the Arab World.”
Brazil’s economy is largely driven by its agriculture sector, heavily exporting cattle meat, corn, soy beans, coffee, sugar and palm oil, among others. Industry experts have predicted the country’s fertilizer market will continue to grow, with demand reaching up to 31 million tonnes. Among the Arab nations, Qatar and Saudi Arabia led the market, with share growth soaring up to 26.8 per cent and 559 per cent, respectively. Overall, Brazil posted 21.82 per cent import growth from 2015, ABCC noted.
“The ever-increasing trade growth between Brazil and the Arab World continues to enjoy a commercial support system which provides consistent exchange of market data and information. With food security as one of the region’s priority, our industry specialists have remained at the forefront of analyzing and identifying new market opportunities for both regions. We are confident that this unique and stable relationship between the Arab World and Brazil will bear an even more lucrative business in the near future,” Dr. Alaby concluded.