Brazil relies on imports for nearly 100% of supplies, which come from nations like Canada and Russia
An agricultural worker is seen loading a tractor with fertilizer before spreading it in a soybean field, near Brasilia, Brazil on Feb. 15.The cost to produce potash from a mine being developed in the Brazil ian Amazon will be similar to Russia ’s and lower than in No. 1 producer Canada , said the CEO of Brazil Potash Corp, citing a third-party assessment used in a company presentation.
“All in, our cost to mine, process and deliver the potash to farmers in Mato Grosso state will be $130 per ton,” CEO Matt Simpson said in an interview on Monday, breaking down production cost in Brazil at $80 per ton and transportation at $50 per ton. Simpson noted freight tied to potash imports alone was higher than the total cost for the company, whose mine is significantly closer to local farmers.
“There’s going to be a six-to-seven million ton shortfall in new supply versus demand that is going to cause a structural shift up of roughly $100 a ton,” he said, predicting Brazil’s potash price could be $400 or $500 by 2032.
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