There is no doubt that, currently, exports prices are better than prices in the domestic market, but still far from compensating for production prices. Thus, growers that sell soybeans to pay for their debts have been present in the fertilizer acquisition market that delivered, between January and February, a volume above the expected in the segment amounting to a total of 1,343,035.00 ton, albeit 28% less than the delivery in 2008, that amounted to 1,857,471.00 ton.

The expectation for the delivery of fertilizers by the industries at the beginning of March was 1,658,122 ton., also lower than in 2008, that amounted to 2,531,657 ton. However, there is an important fact to highlight: today, the grower that is shopping for raw materials brings in cash, thus providing some comfort to the cashflow of fertilizer producing companies.

I believe that the year of 2009 will be much better than 2008, since both the producers of raw materials and the growers will be strengthened. If, on the one side, the growers will pay for many advanced expenses and will honor their debts, on the other side, fertilizer producers will be more careful in purchasing, with their inventories and expenses in general.

The international market, in spite of the crisis, will continue to buy our foodstuff, a fact that also happens in the domestic market, that will also be encouraged to do it, since the Federal Government is acting quickly and is on the alert to provide food for all, and for that, has already added two more installments to the unemployment wages to people that were discharged in December. This money is directly addressed to food. In this context, in the case of Brazil, it is a fact that actions are carefully based on the coming elections, especially the election of the new President.