Venezuela's share of global urea production remains low.

Recent geopolitical tensions involving the United States and Venezuela have rekindled international market attention to potential impacts on the global fertilizer supply chain, especially nitrogen fertilizers, reports StoneX, a global financial services company. However, Venezuela has a limited share of the global urea trade, which reduces the potential for structural effects on prices and global supply.

According to market intelligence analyst Tomás Pernías, it is common for large oil producers to also have a significant presence in the production of nitrogen fertilizers, since natural gas—an essential input for the manufacture of nitrogen fertilizers—is linked to oil exploration. “Russia, Algeria, Iran, and Qatar are examples of this correlation. In the case of Venezuela, despite being a major oil producer, its presence in the global urea market is quite modest,” he explains.

In 2024, Venezuela ranked 18th among the world's largest exporters of urea, with just over 560 tons shipped, equivalent to about 1% of global exports. For comparison, Russia accounted for approximately 18% of global trade in the product during the same period.

Supply to Brazil exists, but it is not a determining factor.

Although it has low global relevance, Venezuela appears as a supplier of urea to Brazil. In 2024, approximately 6% of the urea imported by the country originated in Venezuela. Between January and November 2025, this share decreased slightly, falling below 5%.

Brazil's main trading partners for urea imports in 2025 will continue to be Nigeria (23%), Russia (16%) and Qatar (15%), which reinforces the diversification of origins and reduces dependence on a single supplier.

“So far, there are no indications of direct impacts on Venezuela’s fertilizer production or export capacity,” Pernías emphasizes. “What the market is observing, for now, are specific pressures on logistics costs, with reports of higher maritime freight rates due to increased uncertainty in the region,” he concludes.