Australia and Oceania: Salt Market 2024

Salt Market Size in Australia and Oceania

In 2022, the salt market in Australia and Oceania increased by 7.3% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a pronounced reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Salt Production in Australia and Oceania

In value terms, salt production skyrocketed to $X in 2022 estimated in export price. In general, production showed a noticeable reduction. The pace of growth was the most pronounced in 2018 when the production volume increased by 19% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Salt Exports

Exports in Australia and Oceania

In 2022, the amount of salt and pure sodium chloride exported in Australia and Oceania surged to X tons, rising by 52% against the previous year's figure. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 862%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, salt exports reduced rapidly to $X in 2022. In general, exports recorded strong growth. The growth pace was the most rapid in 2021 when exports increased by 530%. As a result, the exports attained the peak of $X, and then contracted significantly in the following year.

Exports by Country

Australia dominates exports structure, finishing at X tons, which was approx. 92% of total exports in 2022. It was distantly followed by New Zealand (X tons), making up an 8% share of total exports.

Australia was also the fastest-growing in terms of the salt and pure sodium chloride exports, with a CAGR of +60.1% from 2012 to 2022. At the same time, New Zealand (+7.6%) displayed positive paces of growth. While the share of Australia (+74 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-73.7 p.p.) displayed negative dynamics.

In value terms, Australia ($X) and New Zealand ($X) constituted the countries with the highest levels of exports in 2022.

Australia, with a CAGR of +18.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, which is down by -77.8% against the previous year. In general, the export price recorded a abrupt contraction. The growth pace was the most rapid in 2018 when the export price increased by 4.2%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (-0.5%).

Salt Imports

Imports in Australia and Oceania

In 2022, purchases abroad of salt and pure sodium chloride increased by 3.1% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 21%. The volume of import peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, salt imports soared to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 +31.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons) and Papua New Guinea (X tons) represented the major importers of salt and pure sodium chloride in Australia and Oceania, together comprising 56% of total imports. New Zealand (X tons) ranks next in terms of the total imports with a 10% share, followed by Kiribati (9.6%) and Marshall Islands (5.3%). The following importers - Fiji (X tons) and Solomon Islands (X tons) - together made up 6.8% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kiribati (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest salt importing markets in Australia and Oceania were Australia ($X), New Zealand ($X) and Papua New Guinea ($X), together comprising 87% of total imports. Fiji, Kiribati, Marshall Islands and Solomon Islands lagged somewhat behind, together comprising a further 7.1%.

Kiribati, with a CAGR of +15.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, surging by 21% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The pace of growth appeared the most rapid in 2017 an increase of 25% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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