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Yara opens its first foliar fertilizer plant in Brazil

By José Roberto Gomes

SAO PAULO, March 14 (Reuters) - Yara Brasil Fertilizantes SA
opened a new fertilizer plant in Brazil on Wednesday, as it
strengthens its presence in one of the world's fastest growing
agricultural markets.

Some 100 million reais ($30.73 million) was invested in the
plant, which will produce foliar fertilizer for crops including
soybeans and corn. The new unit is in São Paulo state near the
port of Santos, the company said.

Lair Hanzen, Yara's chief executive in Brazil and
vice-president of Yara International, said the country
is one of the most important for the company. It derives a
quarter of its global sales from Brazil.

Yara has invested more than $3 billion in acquisitions and
modernization projects in Brazil, he said.

The fertilizer market in Brazil has been growing at an
average rate of 3 percent in past years, Yara said citing data
from national fertilizers group Anda.

($1 = 3.2538 reais)
(Reporting by José Roberto Gomes
Writing by Ana Mano
Editing by Susan Thomas)

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