Country News
Brazil: Fertilizer sales in Brazil have fallen 9.6 percent in the first half of 2015 as demand from corn farmers has dropped due to high interest rates, the low price of corn on the global markets and increased fertilizer costs associated with a stronger dollar, according to Reuters. Fertilizer deliveries through June 2015 totaled 11.71 MMT, which is down from 12.95 MMT for the same time in 2014. Prior to this year, fertilizer sales had been hitting record consecutive highs. This lower demand could potentially be indicative of reduced corn acreage in 2015/16.
India: Unexpected dry weather in the corn-producing regions of central, southern and western India has put the crops planted during the recent monsoon season at risk, reports Reuters. The threat of reduced yields has caused food prices to soar in the world’s second most populous country. Heavier-than-anticipated rains in early June encouraged an initial rush to plant 44.5 million hectares of cropland by July 17, which is 62 percent higher than the planted area at the same time in 2014. However, due to the development of dry conditions planting has largely stopped. Weather forecasts have indicated that India could suffer its first drought since 2009 due to the El Niño weather pattern.
Iran: The loosening of sanctions against Iran could bring about a large growth in disposable income and has the potential to cause a major increase in demand for corn, according to Reuters.