Brazil: Ammonia Market 2024

Ammonia Market Size in Brazil

In 2022, the Brazilian ammonia market increased by 73% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ammonia Production in Brazil

In value terms, ammonia production declined dramatically to $X in 2022 estimated in export price. Overall, production showed a deep contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 78% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ammonia Exports

Exports from Brazil

In 2022, shipments abroad of anhydrous ammonia increased by 175% to X tons, rising for the third consecutive year after three years of decline. In general, exports enjoyed a prominent increase. The growth pace was the most rapid in 2021 with an increase of 7,224% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, ammonia exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 6,647%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

South Africa (X tons) was the main destination for ammonia exports from Brazil, accounting for a 39% share of total exports. Moreover, ammonia exports to South Africa exceeded the volume sent to the second major destination, Morocco (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to South Africa amounted to +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+3.1% per year) and Spain (0.0% per year).

In value terms, South Africa ($X) emerged as the key foreign market for anhydrous ammonia exports from Brazil, comprising 39% of total exports. The second position in the ranking was held by Morocco ($X), with a 17% share of total exports. It was followed by Spain, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa amounted to +53.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+26.8% per year) and Spain (0.0% per year).

Export Prices by Country

In 2022, the average ammonia export price amounted to $X per ton, surging by 41% against the previous year. Overall, the export price saw prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 164%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Madagascar ($X per ton) and India ($X per ton), while the average price for exports to Morocco ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonia Imports

Imports into Brazil

In 2022, purchases abroad of anhydrous ammonia increased by 88% to X tons, rising for the third year in a row after five years of decline. Overall, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ammonia imports surged to $X in 2022. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 161% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Trinidad and Tobago (X tons) was the main supplier of ammonia to Brazil, with a 92% share of total imports. Moreover, ammonia imports from Trinidad and Tobago exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Qatar (X tons) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Trinidad and Tobago stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+174.3% per year) and Qatar (0.0% per year).

In value terms, Trinidad and Tobago ($X) constituted the largest supplier of anhydrous ammonia to Brazil, comprising 85% of total imports. The second position in the ranking was taken by the United States ($X), with a 7% share of total imports. It was followed by Algeria, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Trinidad and Tobago totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+131.0% per year) and Algeria (+316.4% per year).

Import Prices by Country

In 2022, the average ammonia import price amounted to $X per ton, picking up by 10% against the previous year. Overall, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2021 an increase of 86% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Algeria ($X per ton), while the price for Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+137.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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