According to available data, in 2024, the volume of exports of these products from the Russian Federation to the countries of the association amounted to a record 21.5 million tons.
According to experts, cooperation between Russia and Brazil, which are BRICS countries, is currently at a very high level. It covers many areas, such as economics, culture, and science.
In addition, Brazil is currently Russia’s main partner in Latin America. Russia’s total trade turnover with Brazil is almost half of Russia’s turnover with all Latin American countries.
If we evaluate the trade turnover between the countries in absolute values, then last year it amounted to 12.4 billion dollars.
There is every reason to believe that trade volumes will continue to grow. This is facilitated by many factors.
In particular, the fact that both countries are part of BRICS and share common values, such as equal cooperation based on respect for each other’s interests, as well as the desire for a multipolar world.
This is exactly the case when common political views can become strong drivers for the development of economic ties, analysts emphasize.
As for fertilizers, Russia has long achieved complete self-sufficiency in this type of product. It covers 100% of its domestic needs for fertilizers, fully providing farmers with everything they need.
Moreover, at the moment, it is the Russian Federation that is the leader in terms of export volumes of this type of product. Its share in the world market is 18%, which is quite a significant figure.
At the same time, it is the BRICS countries that are priority destinations for fertilizer supplies, experts emphasize. Already now, up to half of the total export volume goes there, and over time, this figure will only grow.
For example, over the past 3 years, fertilizer supplies to the BRICS countries have increased by 60%. As a result, the Russian Federation already accounts for 33% of the structure of imports of this type of product by the countries of the association.
Russian experts emphasize that Russia thereby provides significant assistance to friendly countries in building their own food sovereignty.
An additional stimulus for the development of trade relations with both Brazil and all the countries of the association may be the BRICS summit, which will be held this year.
The achieved results, as well as the existing problems and ways to solve them, will be discussed there.
The event will be held on July 6-7 in Rio de Janeiro: this time it is Brazil that is hosting it.
