Attention In Global Commodities Markets

 

World Spotlight: Latin American Countries Are Getting Investors Attention In Global Commodities Markets





The ongoing effects from the Black Sea Grain Initiative in international politics have raised the issues on global food security throughout the developing world. The issues of concern here have been thoroughly analyzed and covered due to the devestating impacts to food security brought on by Russia’s invasion of Ukraine. Ukraine is an important agricultural producer and exporter of grain and wheat to countries throughout Africa and the Middle East regions. Russia, on the other hand, is a very important fertilzer producer and exporter for which it has been using as political leverage over the Black Sea Grain Deal. On May 3, 2022, Brazil announced that the government was taking a trip to North Africa for the purpose of engaging Jordan, Egypt and Morocco for “Fertilizer Diplomacy.”

This diplomatic engagement underscores the issues that Brazil is facing in securing fertilizer imports in the aftermath of Russia’s invasion of Ukraine. Moreover, because Russia is one of the world’s largest fertilizer exporters, Brazil has doubled down on its efforts to implement a new fertilizer strategy, which was unveiled by President Bolsarno in early 2022. Brazil’s National Fertilizer Plan even proposes to mine potash from underground reserves in the Amazon Rainforest which has caused an uproar from the environmetal protection advocates and indigenous communities there.

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