Significant growth recorded in Brazilian soybean nutrition market

In addition to the higher cost of fertilizers, driven by the pandemic, raw material costs, and the war in Ukraine, our survey revealed that farmers are not only concerned with the availability of products, but also in ensuring that they have access to more efficient technologies. These technologies include nutrient aggregation into a single granule, protection of urea granules against rapid volatilization, and the controlled release of nutrients over time, all of which contribute to enhanced crop production.

The study also documented the growth in the market value for biostimulants between 2020 and 2022. Their use rose from 28% to 38% of the cultivated soybean area, equivalent to around 15 million hectares, reflecting a 50% increase in value.

As for the awareness of manufacturers and products among farmers, the FarmTrak survey referenced more than 330 companies and 2,800 products, a significant increase from the previous survey which mentioned 200 companies and 1,900 products.

This increase is due to more companies entering the market, from granular mixes to foliar fertilizers, as well as biostimulants and inoculants. It's an evolving and dynamic marketplace, marked by new entrants and increasing product diversity.