Australia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Australia

In 2022, the Australian NPK fertilizer market increased by 7% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Npk Fertilizer Exports

Exports from Australia

In 2022, exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers from Australia expanded significantly to X tons, picking up by 7.5% against the previous year's figure. In general, exports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2017 when exports increased by 54%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, NPK fertilizer exports shrank remarkably to $X in 2022. Over the period under review, exports, however, showed a slight decline. The pace of growth was the most pronounced in 2021 when exports increased by 132% against the previous year. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

Thailand (X tons), New Zealand (X tons) and Japan (X tons) were the main destinations of NPK fertilizer exports from Australia, together comprising 52% of total exports. Papua New Guinea, Vietnam, China, Malaysia, the United States and Bulgaria lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +90.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for NPK fertilizer exported from Australia were Japan ($X), New Zealand ($X) and Thailand ($X), together comprising 62% of total exports. Vietnam, Malaysia, China, the United States, Papua New Guinea and Bulgaria lagged somewhat behind, together comprising a further 25%.

China, with a CAGR of +70.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, reducing by -48.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 88%. As a result, the export price attained the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Papua New Guinea ($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 Malaysia (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Australia

In 2022, approx. X tons of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were imported into Australia; declining by -22.1% compared with the year before. In general, imports recorded a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, NPK fertilizer imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 29%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

South Korea (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of NPK fertilizer imports to Australia, with a combined 64% share of total imports. Norway, China, Germany, Serbia, the United States and Israel lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +138.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest NPK fertilizer suppliers to Australia were Belgium ($X), the Netherlands ($X) and South Korea ($X), with a combined 60% share of total imports. Norway, China, Germany, the United States, Serbia and Israel lagged somewhat behind, together comprising a further 30%.

Serbia, with a CAGR of +200.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average NPK fertilizer import price stood at $X per ton in 2022, surging by 56% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer import price increased by +92.5% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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