Argentina: Nitrites Market 2024

Nitrites Market Size in Argentina

The Argentinian nitrites market amounted to $X in 2021, surging by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a noticeable decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Nitrites Exports

Exports from Argentina

In 2021, approx. X tons of nitrites were exported from Argentina; increasing by 62% on the year before. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 649%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, nitrites exports skyrocketed to $X in 2021. Overall, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 410%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for nitrites exports from Argentina, accounting for a 78% share of total exports. Moreover, nitrites exports to Chile exceeded the volume sent to the second major destination, Paraguay (X kg), ninefold. Bolivia (X kg) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile totaled +53.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+18.1% per year) and Bolivia (+21.9% per year).

In value terms, Chile ($X) remains the key foreign market for nitrites exports from Argentina, comprising 57% of total exports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total exports. It was followed by Paraguay, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile totaled +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+21.1% per year) and Paraguay (+23.7% per year).

Export Prices by Country

In 2021, the average nitrites export price amounted to $X per ton, picking up by 47% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 Brazil ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+20.2%), while the prices for the other major destinations experienced mixed trend patterns.

Nitrites Imports

Imports into Argentina

In 2021, nitrites imports into Argentina rose sharply to X tons, picking up by 13% compared with 2020 figures. Overall, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 56%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, nitrites imports rose notably to $X in 2021. In general, imports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2015 when imports increased by 37%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest nitrites supplier to Argentina, accounting for a 63% share of total imports. Moreover, nitrites imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by India (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-20.6% per year) and India (+57.5% per year).

In value terms, Germany ($X) constituted the largest supplier of nitrites to Argentina, comprising 55% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by India, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-16.5% per year) and India (+13.8% per year).

Import Prices by Country

The average nitrites import price stood at $X per ton in 2021, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 44%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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