Farmers Face Fertilizer Fallout Amid Russia Sanctions Threat

Latin American agriculture stands on a precarious edge as the U.S. threatens secondary sanctions on Russian fertilizers. Brazil and Mexico, in particular, may feel the sting, with key crops relying heavily on these imports.

Brazil, a major agricultural powerhouse, imported $3.7 billion worth of Russian fertilizers last year, meeting a third of its demands. Should these imports halt, the ramifications could be severe, potentially crippling the production of vital cash crops like soybeans and corn.

In Mexico, where Russia is the top fertilizer supplier, farmers might grapple with significant cost increases and supply shortages, affecting the prized avocado market. With geopolitical tensions rising, the agricultural sector holds its breath for potential sanctions and their broader implications.

(With inputs from agencies.)