Chile: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Chile

In 2022, the Chilean NPK fertilizer market increased by 45% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption saw buoyant growth. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Npk Fertilizer Production in Chile

In value terms, NPK fertilizer production surged to $X in 2022 estimated in export price. In general, production recorded a significant expansion. Production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Npk Fertilizer Exports

Exports from Chile

In 2022, npk fertilizer exports from Chile skyrocketed to X tons, growing by 65% against 2021. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 141% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, NPK fertilizer exports skyrocketed to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Colombia (X tons) and Ecuador (X tons) were the main destinations of NPK fertilizer exports from Chile, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +38.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for NPK fertilizer exported from Chile were Mexico ($X), Colombia ($X) and Ecuador ($X), with a combined 94% share of total exports.

Mexico, with a CAGR of +39.7%, recorded 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, surging by 61% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer export price increased by +89.0% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Mexico ($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 Colombia (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Npk Fertilizer Imports

Imports into Chile

NPK fertilizer imports into Chile skyrocketed to X tons in 2022, jumping by 71% compared with the previous year. Over the period under review, imports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 132% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, NPK fertilizer imports skyrocketed to $X in 2022. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 84%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Finland (X tons) constituted the largest NPK fertilizer supplier to Chile, accounting for a 78% share of total imports. Moreover, NPK fertilizer imports from Finland exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was taken by Brazil (X tons), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from Finland totaled +57.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.4% per year) and Brazil (+75.2% per year).

In value terms, Finland ($X) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Chile, comprising 48% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by Brazil, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland totaled +53.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.3% per year) and Brazil (+60.1% per year).

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, dropping by -21% against the previous year. Over the period under review, the import price recorded a mild decline. The most prominent rate of growth was recorded in 2020 an increase of 75% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 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 Colombia (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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