Fertilizers: Purchasing Power Index indicates price reduction in November, says Mosaic

The Fertilizer Purchasing Power Index (FPPI) for November closed at 1.12, representing a 3.8% drop from the previous month. According to Mosaic Fertilizers, the reduction indicates a favorable scenario for the rural producer. In a statement, Mosaic says that the combination of the external market, exchange rate, and fertilizer prices contributed to the movement. "The variation was influenced by the behavior of agricultural commodities, the dollar's decline, and a punctual reduction in the application of fertilizers," it said. The FPPI is released monthly by Mosaic and consists of the relationship between fertilizer price indicators and the main Brazilian crops: soybeans, corn, sugarcane, and cotton. According to the statement, the commodities showed a slight average increase of 0.8%, with soybeans (+2.1%) standing out, driven by international support and increased Chinese purchases following new trade agreements with the United States. Corn also advanced (+2.6%) due to the ...