News

Brazil poised to develop domestic potash production

A major competitor to the U.S. for corn and soybean exports is poised to expand its domestic fertilizer production.

Brazil Potash Corporation CEO Matt Simpson says the bulk of global potash production comes from Canada and Russia, and Brazil is the biggest importer.

“And the Brazilian market is growing at almost four times the rest of the world. It’s growing at about 6.8 percent right now, and the rest of the world is about 1.7. So our initial production of 2.4 million tons would supply about 17 percent of Brazil’s need.”

He tells Brownfield Brazil boasts one of the largest potash basins in the world that’s been untapped until now.

“Our cost to extract, process, and deliver this essential nutrient to a Brazilian farmer at about $130 a ton is less than the over $200 spent importing the material for just transportation costs alone. So we have a substantial and sustainable cost advantage.”

Simpson says Brazil Potash Corporation has begun construction of a new facility to extract and process potash ore to be used to fertilize various crops.