State - run Brazilian oil firm Petroleo Brasileiro ( Petrobras ) will mothball its unprofitable Fafen - SE and Fafen - BA fertiliser plants toward the end of H1 2018 as the country seeks to exit the fertiliser market , said refining director Jorge Celestino . Brazil imports 85 % of its fertiliser as it is cheaper than those produced by the two plants in the Sergipe and Bahia states , which posted respective losses of BRL600 m ( $ 183 m ) and BRL200 m in 2017 . No bids have come forward yet for either of the two sites , but there are plans for other units .
State-run Brazilian oil firm Petroleo Brasileiro (Petrobras) will mothball its unprofitable Fafen-SE and Fafen-BA fertiliser plants toward the end of H1 2018 as the company seeks to exit the fertiliser industry, said refining director Jorge Celestino. Brazil imports 85% of its fertiliser as it is cheaper than those produced by the two plants in the Sergipe and Bahia states, which posted respective losses of BRL600m ($183m) and BRL200m in 2017. No buyers have come forward yet for either of the two sites, but there are offers for other units.