The Magazine for Asian Investors
Brazilian President Jair Bolsonaro on Tuesday (July 25) reaffirmed his stance against economic sanctions against Russia to maintain supplies of fertilizers imported from Russia by Brazilian agribusinesses.
“We are not going to adhere to sanctions. We maintain a balanced position because without Brazil’s balance on this issue today, we would not have fertilizers for our agribusiness, Without fertilizers, our guarantee of food security and that of 1 billion people in the world would be threatened,”Bolsonaro said during the Global Agribusiness Forum 2022 in the city of Sao Paulo.
Bolsonaro has defended Brazil’s decision to maintain trade relations with Russia in order to secure food production.
The Brazilian government has decided to expand the national fertilizer program as an alternative to imports.
Brazil, the largest economy in Latin America, is the world’s leading producer of soybeans and exporter of animal protein.