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The main reasons for this improvement are the prices of agricultural commodities, especially soybeans, corn and cotton, which rose compared to last month due to crop failures announced after adverse weather events, mainly in the South region.
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The average price of fertilizers fell in January, led mainly by nitrogen fertilizers, which have their sales window closing in Brazil and finding little support from other geographies. On the other hand, an adjustment was observed for potassium in the period and the market continues to observe the evolution of macroeconomic issues involving Belarus, in addition to the crisis between Russia and Ukraine. It is important to highlight that global demand, as well as in Brazil, remains strong. Combined with the factors mentioned, they support prices.
Source: DATA
