Belarus: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Belarus

After two years of decline, the Belarusian NPK fertilizer market increased by 7.3% to $X in 2022. In general, consumption saw a moderate expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Npk Fertilizer Production in Belarus

In value terms, NPK fertilizer production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Npk Fertilizer Exports

Exports from Belarus

In 2022, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -14.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2014 when exports increased by 55% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, NPK fertilizer exports declined rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2021 with an increase of 81%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

Lithuania (X tons) was the main destination for NPK fertilizer exports from Belarus, with a 66% share of total exports. Moreover, NPK fertilizer exports to Lithuania exceeded the volume sent to the second major destination, Ukraine (X tons), fourfold. The third position in this ranking was taken by Poland (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+4.7% per year) and Poland (+11.5% per year).

In value terms, the largest markets for NPK fertilizer exported from Belarus were Lithuania ($X), Ukraine ($X) and Poland ($X), together accounting for 89% of total exports. Latvia and Hungary lagged somewhat behind, together comprising a further 4.9%.

Hungary, with a CAGR of +33.3%, saw the highest growth rate of 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, shrinking by -8.8% against the previous year. Over the period under review, the export price recorded a noticeable downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 27%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Lithuania ($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 Ukraine (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.

Npk Fertilizer Imports

Imports into Belarus

In 2022, npk fertilizer imports into Belarus declined to X tons, with a decrease of -14.5% compared with the previous year's figure. Over the period under review, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 78% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, NPK fertilizer imports contracted sharply to $X in 2022. In general, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 77%. As a result, imports attained the peak of $X, and then reduced rapidly in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest NPK fertilizer supplier to Belarus, accounting for a 47% share of total imports. Moreover, NPK fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by Lithuania (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+14.3% per year) and Lithuania (+39.6% per year).

In value terms, the largest NPK fertilizer suppliers to Belarus were Russia ($X), Poland ($X) and Lithuania ($X), with a combined 74% share of total imports. The Netherlands, Norway, Belgium and Finland lagged somewhat behind, together accounting for a further 15%.

In terms of the main suppliers, Norway, with a CAGR of +37.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, reducing by -8.4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 25% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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