Petrobras is restarting operations at several idled, less-profitable fertilizer plants. This strategic move addresses soaring prices that threaten the competitiveness of Brazilian farmers against U.S. producers.
Brazil currently relies heavily on fertilizer imports. Rising costs have forced many local farmers to reduce purchases during the critical spring planting season.
Petrobras aims to meet 35% of Brazil's nitrogen-fertilizer needs in the coming years. Increased domestic production will help shield the agricultural sector from elevated international market prices.