Bunge Fertilizantes And Fosfertil Announce Tie-up

Bunge Fertilizantes, Brazil’s leading fertilizer retailer and part of industrial conglomerate Bunge, is to merge with local fertilizer producer Fosfertil, both companies announced. The merger aims to create a company – to be called Fosfertil Fertilizantes – to compete against the global players for domestic market share. Brazil is the fourth-largest fertilizer market in the world, according to Fosfertil. Bunge currently owns a 12% stake in Fosfertil. In July, Norwegian Yara International, the world’s largest mineral fertilizer producer, become the second-largest player in Brazil’s fertilizer market after it paid $126 million for local firm Fertibrás.