Brasilia-Agriculture Minister Reinhold Stephanes was again being quoted in the local media last week as saying Brazil will confiscate undeveloped fertilizer deposits in the country. Stephanes did not identify the deposits or their owners. Brazil, which is a major fertilizer importer, hopes to be self-sufficient by 2010. Yara International ASA and Bunge Ltd., both with fertilizer deposits in Brazil, told Green Markets last week that they believe the government is well informed about their own development plans in the country, as well as their timelines for development. Bunge noted in particular that it announced in May that it would spend some R$3.2 billion on four new projects to enhance phosphate supply. It said some 3.5 million mt of phos rock would be made available to the local market, representing 30 percent of current demand. New Bunge projects are slated to come online between 2009-2011.
Transparency Across the Fertilizer Value-Chain