Forecast of ammonium sulfate will guide Brazil's urea imports in 2026

Historically, Brazil's imports of urea have typically been 2-3 million tons/year higher than those of ammonium sulfate. However, this advantage of urea has diminished as ammonium sulfate has become more accessible and more affordable for farmers. Ammonium sulfate is also more readily available on the market and has lower price volatility. From 2018-2024, Brazil's imports of ammonium sulfate nearly tripled, exceeding 6 million tons/year, while urea imports only increased by nearly 2 million tons/year, reaching about 8 million tons/year in the same period. According to Argus, the average price of ammonium sulfate reached 178 USD/ton (cfr) during the period from August to November, when Brazil conducted most of its ammonium sulfate purchases, equivalent to the same period in 2024. The average price of ammonium sulfate from August to November in the years 2020-2024 was about 244 USD/ton (cfr). Trade data shows that from January to November of this year, Brazil imported nearly equal ...