Valeria Piñeiro

This publication appeared as a chapter in Agricultural Trade at a Crossroads with Latin American, Caribbean, and African Perspectives for Post-MC14, edited by Valeria Piñeiro, Simon Mevell, and Martin Piñeiro, published by the International Food Policy Research Institute and the United Nations Economic Commission for Africa. Over the past 45 years, world merchandise trade has undergone significant structural transformations, and agrifood products have been part of that evolution.

By Joseph Glauber, Valeria Piñeiro, and Juan Pablo Gianatiempo Key takeaways Rising global fertilizer and energy prices are straining farmers in Argentina and Brazil even as global food supplies remain relatively ample. Heavy dependence on imported fertilizers makes both countries especially vulnerable to disruptions linked to the Strait of Hormuz. Lower margins and uncertain weather could push producers toward reduced fertilizer use or less input‑intensive crops, with risks for future supply.

By Joseph Glauber, Valeria Piñeiro, and Juan Pablo GianatiempoMay 4, 2026 Key takeaways •Rising global fertilizer and energy prices are straining farmers in Argentina and Brazil even as global food supplies remain relatively ample. •Heavy dependence on imported fertilizers makes both countries especially vulnerable to disruptions linked to the Strait of Hormuz.