Preliminary monthly data from the Secretariat of Foreign Trade shows that Brazil received about 8.8 million tonnes of the nitrogen-, phosphorous- and potassium-based fertiliser in the first five months of 2014, up 10% on-year.
The fall in international prices coupled with the increase in supply from the US, Morocco, China and Russia is helping with the fertiliser shipments to Brazil, which imports about two-thirds of its fertilisers, said Lair Hanzen, head of the Brazilian unit of Yara International.
Better news for the country's farmers is that imports fell 16% in value to US$2.9 billion, thanks to a 23% slip in prices, which fell to US$324 per tonne on average. Meanwhile, the Brazilian currency, real, gained 4.4% this year after tumbling 13% against the US dollar last year.
The soy industry, which accounts for about a third of fertilisers used in Brazil, is leading the sales growth.