Mixed Fertilizer Prices in China

China Mixed Fertilizer Export Price in September 2022

In September 2022, the mixed fertilizer price stood at $884 per ton (FOB, China), stabilizing at the previous month. Over the last eight months, it increased at an average monthly rate of +3.8%. The growth pace was the most rapid in March 2022 when the average export price increased by 11% month-to-month. Over the period under review, the average export prices reached the peak figure at $888 per ton in August 2022, and then shrank in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was Turkey ($1,338 per ton), while the average price for exports to the Philippines ($609 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

China Mixed Fertilizer Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was monoammonium phosphate (MAP) ($1,000 per ton), while the average price for exports of fertilizers, mineral or chemical; containing the two fertilizing elements nitrogen and phosphorus, other than nitrates and phosphates ($548 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: monoammonium phosphate (+5.3%), while the prices for the other products experienced more modest paces of growth.

China Mixed Fertilizer Exports

For the fifth month in a row, China recorded growth in overseas shipments of mixed fertilizers, which increased by 5.3% to 866K tons in September 2022. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in March 2022 when exports increased by 197% month-to-month. Over the period under review, the exports hit record highs in September 2022.

In value terms, mixed fertilizer exports stood at $766M (IndexBox estimates) in September 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in March 2022 when exports increased by 231% against the previous month. The exports peaked in September 2022.

China Mixed Fertilizer Exports by Type

Diammonium phosphate (469K tons), monoammonium phosphate (MAP) (243K tons) and mixed nitrogen, phosphorus and potassium (NPK) fertilizers (92K tons) were the main products of mixed fertilizer exports from China, together comprising 93% of total exports. Fertilizers, mineral or chemical; containing the two fertilizing elements nitrogen and phosphorus, other than nitrates and phosphates and mixed phosphorus and potassium (PK) fertilizers lagged somewhat behind, together accounting for a further 7.2%.

From January 2022 to September 2022, the biggest increases were in NPK fertilizer (with a CAGR of +32.5%), while shipments for the other products experienced more modest paces of growth.

In value terms, the most traded types of mixed fertilizers in China were diammonium phosphate ($429M), monoammonium phosphate (MAP) ($243M) and mixed nitrogen, phosphorus and potassium (NPK) fertilizers ($60M), together accounting for 95% of total exports. Fertilizers, mineral or chemical; containing the two fertilizing elements nitrogen and phosphorus, other than nitrates and phosphates and mixed phosphorus and potassium (PK) fertilizers lagged somewhat behind, together accounting for a further 4.5%.

NPK fertilizer, with a CAGR of +35.1%, saw the highest growth rate of the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

China Mixed Fertilizer Exports by Country

Bangladesh (220K tons), India (140K tons) and Pakistan (62K tons) were the main destinations of mixed fertilizer exports from China, with a combined 49% share of total exports. These countries were followed by the Philippines, Brazil, Japan, Australia, Vietnam, Malaysia, South Korea, Indonesia, Turkey and Thailand, which together accounted for a further 39%.

From January 2022 to September 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +70.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixed fertilizer exported from China were Bangladesh ($199M), India ($125M) and Japan ($56M), with a combined 50% share of total exports. Pakistan, Brazil, Australia, the Philippines, Vietnam, Turkey, South Korea, Malaysia, Indonesia and Thailand lagged somewhat behind, together accounting for a further 37%.

In terms of the main countries of destination, Malaysia, with a CAGR of +73.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform