RE: targa1 Mar 2021 21:16
Brian McMaster, Executive Chairman of Harvest stated, "We are currently in the wet season in Brazil, a traditionally quieter period for us, and so our operations have not yet been directly impacted by the global pandemic. However, we do know that Brazilian farmers are taking advantage of the weaker Reais, which has fallen by 17% this year against the US$, and that they have already pre-sold 20% of this year's soybean harvest. Naturally, this is driving an increased demand for fertilisers; forecasts suggest a 3% growth in fertilisers this year. The weaker Reais also means that imported fertiliser prices are higher and that the supply chain is currently disrupted; this may strengthen our proposition as a local producer.