The wait for potential government measures to support indebted farmers has led many producers to postpone purchases of some inputs for the 2026/27 crop, weighing on business for resellers and manufacturers. The uncertainty has deepened delays in fertilizer buying, which is running 10 percentage points below the average pace seen in recent years.
Rising defaults in rural areas, persistently high interest rates and delayed input purchases are raising doubts about the outcome of the next crop season, which could also feel the effects of El Niño. The issue has already triggered concern within the federal government.
Jeferson Souza, a market analyst at Agrinvest, said soybean farmers had bought 68% of the fertilizer volume…