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Wednesday, December 7, 2022

Peru turns to Morocco, shortage of agricultural inputs forces

In a market still under strong tension due to the global context and in particular the conflict in Ukraine, fertilizer prices have continued to break new records in recent days. So after that, a first shock relating to that of the outbreak of grains and oils, now theFertilizer prices are hitting new records, further drying up a market disrupted by the Russian-Ukrainian dispute.

Fertilizer importers must now contend with the absence of Russian exports after a second half of 2021 already marked by Chinese export restrictions. Global demand is emerging increasingly strong with hasty purchases of phosphate fertilizers particularly by Brazil, Peru and the rest of Latin America and Southeast Asia (India, etc.).

The EU could also increase its supply of phosphates, of which China, Morocco and the United States are the leading producers, the Kingdom being in the business, the world’s leading exporter of phosphates and therefore a key player for the industry. fertilizers in this regard.

As a result, benchmark international fertilizer prices have risen throughout 2021, with many prices reaching record highs. For nitrogen fertilizers, prices are skyrocketing. Urea, one of the main nitrogenous fertilisers, has more than tripled in less than a year and last October the ton oscillated at +900 USD. So we rush to our gate to find an alternative to the suspension of Russian fertilizers. The latest, Peru, whose statement by its Minister of Agrarian Development and Irrigation (MIDAGRI), Oscar Zea, of a paradox of nerve, we will say, surprised more than one here.

Indeed, it is said that for mitigate the impact of increases and shortages of agricultural inputs” a proposal was presented to the Ministry of Finance to release money to finalize the purchase of urea and other fertilizers and that government-to-government talks to do so, the process of which will be transparent, are underway with Morocco, Venezuela and Bolivia”. So much for saving the peasant class of Peru which put the former rural teacher, Pedro Castillo, in power last July.

And who immediately after being invested (September 2021) as the new president of Peru, he urged his Minister of Foreign Affairs to defend himself from this press release, “The governments of the Republics of Peru and Sahrawi have agreed to resume their diplomatic relations and have reaffirmed their respect for international law and the principle of self-determination of peoples.

After diplomatic relations suspended for 25 years, Peru thus joined Cuba, Ecuador, Mexico, Nicaragua, Panama, Venezuela and Uruguay, countries having recognized the separatist organization. It is as if Castillo, before supplying Peru with agricultural inputs, will have to review his fictitious relations and enlighten Moroccan opinion as to his position on the territorial sovereignty of the Kingdom before being able to deal with him.

It is true that money has no smell these days, well, it is a minimum of respect. Need we recall that President Castillo has just escaped (at the end of last March) a dismissal procedure initiated by Parliament where he was targeted for ” moral incapacity “. This was the second parliamentary rebellion in Peru faced by the president, poorly elected last July.

The opposition accused him of having intervened in a corruption affair and of having committed a ” treason » by declaring itself open to a referendum on an outlet to the Pacific Ocean for the landlocked neighbor of Bolivia. Ocean, referendum oddly brings to mind the Atlantic seaboard that some are also eyeing through separatists.

The unfortunate Castillo is reproached for enveloping you completely, the repeated ministerial crises and the formation of four governments in eight months in Peru, an unprecedented fact in the Andean empire or even in Latin America.

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