Fedeagro: Venezuela dependent on Russia for over 80% of fertilizer and other inputs purchase

Date:03-21-2022

The President of the Confederation of Associations of Agricultural Producers of Venezuela (Fedeagro), Celso Fantinel, has explained that Venezuela is dependent on Russia for more than 80% of the purchase of fertilizers and other inputs, and the war between Russia and Ukraine has affected its sales.

"They export about 20% of all the world's needs, which is Russia’s importance in the production of fertilizers," he said.

He also stressed that fertilizers are one of the main ingredients for planting crops in the country, as is the case with corn, and pointed out that the production of some products is stagnant in Venezuela.

"We had a slight recovery of white (corn), but yellow corn and coffee remain stagnant. Vegetables do not grow because consumption is deficient and we are apprehensive, because we also see how all raw materials, not just our inputs, but what is rice, wheat, corn, sugar is rising," he said.

In an interview granted to Fedecamaras Radio, he explained that in a meeting with the national executive they told him that it was imperative to obtain bank loans and financing for the agricultural and livestock sector, coupled with the issue of the diesel assortment and supervision due to speculation by irregular markets.

"Let us offer a positive message to the country of wanting the agricultural sector and 17 states to recover as their first and second incomes are agricultural crops," he mentioned.

He stressed that for more than four years the sector has had bank financing that does not reach US$30 to $40 million, when the sector requires, for a better and greater production, between 1$,000 to $1,500 million.

"It is not just about buying seeds and fertilizers. We have to bring tractors, seeders, fumigators, technology, because without that investment we are stagnant," he said.