Fertilizer consumption in the country should grow by 3% in 2019 after record in 2018, says Heringer

SÃO PAULO (Reuters)-The consumption of fertilizers Brazil is expected to increase by 3% in 2019, marking a new record above 36.5 million tons, after the maximum historical in 2018, which signals the strength of the Brazilian agribusiness, estimated on Tuesday the company of Heringer sector. Business Fertilizer consumption in the country should grow by 3% in 2019 after record in 2018, says Heringer BY ROBERTO SAMORA/REUTERS • Posted on 14/05/19 at 20:49 By Roberto Samor, PAULO (Reuters)-The consumption of fertilizers Brazil is expected to increase by 3% in 2019 marking a new record above 36.5 million tons, after the maximum historical in 2018, which signals the strength of the Brazilian agribusiness, estimated in this Tuesday, the company of the Heringer sector. For 2019, Heringer evaluates that the expectation is a seasonality in line with the year 2018, with approximately 37% of the total volume of the year in Brazil being delivered in the first semester, and 63% in the second semester. In the first quarter, it was observed Heringer, a company in the process of judicial recovery, there was a decline in the prices of raw materials of fertilizers in the international market, with urea receding 9%, the MAP dropping 8%, and potassium chloride getting 1% cheaper. On the eve, the Mato-Grossense Institute of Agricultural Economics (IMEA) cited the decline in fertilizer prices as a positive factor for the next soybean crop, since it improves the exchange relationship with the production. Mato Grosso, the main Brazilian agricultural state, is also the largest consumer of fertilizers in the country. In 2018, the deliveries of fertilizers by all companies in Brazil, a sector dominated by the North American Mosaic and the Norwegian Yara, marked the highest level of history, totaling 35.5 million tons, high of 3.1% before 2017, according to data from the association National for the dissemination of Customs (Anda) released this week. Considering that Brazil purchases most of the fertilizer consumed abroad, Brazilian imports of intermediate fertilizers in 2018 were also the largest already recorded, totaling 27.5 million tons, an increase of 4.5% before 2017, according The walk. Meanwhile, the national production of fertilizers last year fell from 0.2%, to 8,170,000 tons, informed Anda. The RESULT OF HERINGERA Heringer, who presented his judicial recovery plan on April 10, reported in a reported reduction in his fertilizer deliveries of 90% in the first quarter, since the company had to paralyze 7 of the 16 units. Mainly due to the reduction in volume of deliveries, net revenues fell from 1.04 billion reais in the first quarter of last year to 135.4 million reais in the first three months of 2019, collaborating for a gross loss of 20.2 million reais in Period. The net result of Heringer was negative in 91.6 million in the first trimester, a result worse than the loss of 46.7 million of the same period of 2018.