Market Trends of brazil micronutrient fertilizer Industry
The growing demand for the field crops in the country and export market will drive the cultivation of field crops.
- Brazil has become self-sufficient in crop production. From being the major importer of food grains, the country emerged as a large exporter of important crops like soybean, rice, maize/corn, cotton, etc. Agriculture in Brazil has high potential in the cultivation of diversified crops due to increasing arable land and the area under cultivation of field crops. The area under the cultivation of field crops in Brazil increased from 61.0 million hectares in 2017 to 70.2 million hectares in 2022, representing an increase of 15.9%. Brazil has two cropping seasons: September to March and February to July. The yields of the first cropping season, between September and March, yield more than the second. In the crop year 2021/2022, the crop yield for wheat in Brazil was 2.89 metric tons per hectare, an increase from the 2.80 metric tons per hectare achieved in the previous year.
- Soybean is a primary field crop in Brazil, reflecting its importance as a commercial/oilseed food, and occupies the maximum area under cultivation, accounting for a 57.51% share, followed by corn with a 26.5% share, respectively. In 2022, soybean production reached 153 million tonnes, with a yield of 3.533 tonnes per hectare. Brazil is expected to be the largest soybean producer globally, followed by the United States and Argentina. The primary agricultural regions in Brazil are Mato Grosso, Parana, Rio Grande Do Sul, Sao Paulo, and Goias.
- The surge in both domestic and international demand for field crops has prompted a notable expansion in the cultivation area dedicated to these crops. This significant increase in cultivated land is expected to have a direct and positive impact on the Brazilian fertilizer market from 2023 to 2030.
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The major crops grown in Brazil are extensively nutrient-consuming, which drives the market for fertilizers, including micronutrients.
- Micronutrient deficiencies in soil are becoming more prominent due to factors like low soil fertility caused by leaching losses, unusually high rainfall that drains the soil, shallow soil profiles, etc. In Brazil, the average micronutrient application rate for field crops was 4.3 kg/ha in 2022.
- The agricultural soils of Brazil are deficient in zinc and boron 10% and 9%, respectively. This makes zinc and boron the most consumed micronutrient fertilizers in the country with the average application rates of 6.1 kg/ha and 1.4 kg/ha. These two micronutrients play a major role in preparing crops to fight against biotic and abiotic stresses, resulting in the need for the artificial application of micronutrients. According to various studies, manganese is one of the micronutrients limiting the productivity of several field crops like soybean, wheat, sugarcane, and maize. This makes manganese one of the essential micronutrient fertilizers in the country. The average application rate was 12.3 kg/ha in 2022, the highest among the micronutrients. Iron and copper are also commonly applied micronutrients which, on average, are applied at 3.3 kg/ha and 7.2 kg/ha, respectively. Iron deficiency in Brazil is not prominent, but the soils of Brazil are deficient in copper by 1%.
- Farmers in the country are majorly adopting micronutrients, as Brazil is a large producer and exporter of high fertilizer-consuming crops like soybean, corn, and cotton, where a limited supply can hinder the yield of the crops.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The high post-harvest losses associated with fruits and vegetables and growing interest in field crop cultivation impacted the cultivation of fruits and vegetables
- Drip irrigation and sprinklers can be used on up to 50 ha of land
- The average application rate of micronutrients for vegetable crops in Brazil was 4.4 kg/ha in 2022
