The global fertilizer market remains under pressure between March and early April, amid escalating conflict in the Middle East, which has affected production, logistics, and energy costs, especially in Persian Gulf countries. Nitrogen fertilizers are leading the upward trend. In the Brazilian market, urea has seen significant price increases during this period, reaching approximately USD 760 per ton CFR on April 10th. According to Itaú BBA, the increase reflects a combination of tighter supply, higher oil and natural gas prices, and greater risk aversion in the international scenario. In the short term, the market tends to remain tight and volatile, given the uncertainties about the duration of the conflict and the normalization of global logistics flows. The phosphate segment also experienced increased tension in recent weeks. In addition to the direct impacts of the conflict in a region strategically important for raw material supply, the market was pressured by the rise in ...