Vice President Alckmin Announces Impending Sanction of Profert to Boost National Fertilizer Production

Vice President Geraldo Alckmin announced on Tuesday that President Luiz Inácio Lula da Silva is expected to sanction the Profert program in the coming days. The initiative aims to stimulate the domestic fertilizer industry and reduce Brazil's dependence on foreign imports, particularly following global supply chain disruptions caused by international conflicts. Under the rules of the program, there will be a mandatory mixture of national fertilizers starting at 2 percent and gradually increasing to 10 percent by 2037. The project, which was approved by the Senate in August, may release up to 10 billion reais in subsidies over five years for the construction, expansion, or modernization of fertilizer plants. Alckmin also mentioned the approval of the Brasil Soberano III program by the National Monetary Council, which allocates 18.5 billion reais to companies impacted by international trade issues, including 4 billion reais specifically for fertilizers. These funds will be available through BNDES with annual rates between 6.53 percent and 9.5 percent. Additionally, Alckmin discussed Bill 114, which proposes suspending the AFRMM charge for the fertilizer industry and creating a tax credit of 1 billion reais per year between 2027 and 2031. The government is also working to increase the supply of natural gas to support the production of nitrogenous fertilizers.