A GROWING MARKET
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atin America, covering the disparate, Spanish-speaking countries of South and Central America, is a region with a well-developed agricultural sector. Food production makes up almost 5% of its gross domestic product (GDP), and crops cover almost 200 million ha. of the continent’s land (with pasture covering another 570 million ha.). The region is a major producer of cereals, coffee, fruit, vegetables and meat. Not only does it create enough food to feed its own population, but it exports impressive amounts of commodities: Mexico is the winter bread basket for the US; Brazil produces millions of tonnes of corn, sugar cane and
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soybeans, and Argentinian beef is eaten all over the world. In 2017, Latin America’s agricultural trade surplus stood at US$104 billion. Most importantly, Latin America represents tremendous opportunities for the fertilizer sector. Most of the farms within Latin America currently operate well below optimum application levels. However, as the region’s current population of 650 million people is expected to grow to an estimated 1 billion by 2050, fertilizer will play an increasingly important role in not only feeding its citizens, but also meeting the nutritional needs of export countries in Asia, Africa and North America.
