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Brazil 2022 fertilizer consumption to drop, consultancy says

SAO PAULO, Aug 17 (Reuters) - Brazil is expected to reduce fertilizer consumption to 43 million tonnes in 2022, as farmers are poised to cut applications when the planting of crops like soybeans begins in September, consultancy MB Agro said on Wednesday. Last year, Brazilian farmers used an estimated 45.85 million tonnes of crop nutrients, according to Anda, a fertilizer industry group. MB Agro's director Alexandre Mendonça de Barros said at an event that crop failure in the last soybean season helped the soil retain some nutrients, potentially driving a fall in applications when the next season starts. Barros does not see the risk of crop yields suffering as a result of lower applications, but cautioned that farmers may not be able to keep doing that in coming planting seasons. "There is not much room, you are using what the soil retained and there is a limit for that," Barros said. Fertilizer prices have shot up in recent months, a trend exacerbated by the war Ukraine, which sparked sanctions against major global supplier Russia. In spite of that, Brazil, which is heavily dependent on imports, continued to buy record volumes. Recently, Norway's Yara YAR.OL, which operates in Brazil, said fertilizer deliveries to local farmers would stabilize or potentially fall in 2022, citing the global rise in prices that has also caused domestic logistical bottlenecks. Brazil relies on imports for about 85% of its needs. It imports crop nutrients from Russia, Morocco, Jordan, China and Canada, among others. (Reporting by Nayara Figueiredo; writing by Ana Mano; editing by Richard Pullin) ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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