Argentina: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Argentina

For the third consecutive year, the Argentinian NPK fertilizer market recorded growth in sales value, which increased by 11% to $X in 2022. Overall, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Npk Fertilizer Production in Argentina

In value terms, NPK fertilizer production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with a decrease of 99.9%. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in the near future.

Npk Fertilizer Exports

Exports from Argentina

In 2022, npk fertilizer exports from Argentina dropped notably to X tons, which is down by -15.9% against the previous year. Over the period under review, exports continue to indicate a dramatic descent. The pace of growth was the most pronounced in 2017 when exports increased by 136% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, NPK fertilizer exports shrank significantly to $X in 2022. In general, exports recorded a dramatic setback. The growth pace was the most rapid in 2021 when exports increased by 128%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for NPK fertilizer exports from Argentina, accounting for a 40% share of total exports. Moreover, NPK fertilizer exports to Brazil exceeded the volume sent to the second major destination, Bolivia (X tons), twofold. South Africa (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil amounted to +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-9.4% per year) and South Africa (-6.6% per year).

In value terms, South Africa ($X) remains the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Argentina, comprising 54% of total exports. The second position in the ranking was held by Brazil ($X), with an 18% share of total exports. It was followed by Bolivia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to South Africa amounted to -19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+4.8% per year) and Bolivia (-18.5% per year).

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, which is down by -14.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 an increase of 30%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+2.6%), while the prices for the other major destinations experienced a decline.

Npk Fertilizer Imports

Imports into Argentina

After two years of growth, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -13.9% to X tons in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 85% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, NPK fertilizer imports surged to $X in 2022. In general, imports, however, recorded strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 128%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Norway (X tons) constituted the largest NPK fertilizer supplier to Argentina, accounting for a 83% share of total imports. Moreover, NPK fertilizer imports from Norway exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from Norway amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+21.6% per year) and Spain (+6.1% per year).

In value terms, Norway ($X) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Argentina, comprising 71% of total imports. The second position in the ranking was held by Belgium ($X), with an 8.6% share of total imports. It was followed by Spain, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Norway amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+29.7% per year) and Spain (+8.0% per year).

Import Prices by Country

The average NPK fertilizer import price stood at $X per ton in 2022, surging by 56% against the previous year. In general, the import price continues to indicate a strong expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 67% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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