Chile: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Chile

In 2022, the Chilean potassium chloride (MOP) market decreased by -22.8% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption, however, recorded a pronounced increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Potassium Chloride (Mop) Production in Chile

In value terms, potassium chloride (MOP) production reduced rapidly to $X in 2022 estimated in export price. In general, production, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by 85%. Potassium chloride (MOP) production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Potassium Chloride (Mop) Exports

Exports from Chile

In 2022, shipments abroad of potassium chloride (MOP) increased by 77% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 with an increase of 117% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, potassium chloride (MOP) exports surged to $X in 2022. In general, exports, however, saw a mild setback. The growth pace was the most rapid in 2021 with an increase of 106% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for potassium chloride (MOP) exports from Chile, with a 61% share of total exports. Moreover, potassium chloride (MOP) exports to Brazil exceeded the volume sent to the second major destination, South Africa (X tons), fourfold. The third position in this ranking was held by Mexico (X tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+9.7% per year) and Mexico (+6.5% per year).

In value terms, Brazil ($X), South Africa ($X) and Mexico ($X) constituted the largest markets for potassium chloride (MOP) exported from Chile worldwide, with a combined 76% share of total exports. Ecuador, Colombia, the Netherlands, the United States, Spain and Belgium lagged somewhat behind, together accounting for a further 23%.

Ecuador, with a CAGR of +10.4%, saw 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

In 2022, the average potassium chloride (MOP) export price amounted to $X per ton, surging by 10% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the average export price increased by 16%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Brazil ($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 Belgium (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Chloride (Mop) Imports

Imports into Chile

Potassium chloride (MOP) imports into Chile skyrocketed to X tons in 2022, increasing by 26% against the previous year. In general, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 74%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium chloride (MOP) imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 77% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Canada (X tons) constituted the largest potassium chloride (MOP) supplier to Chile, accounting for a 78% share of total imports. Moreover, potassium chloride (MOP) imports from Canada exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume from Canada totaled +36.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+80.8% per year) and Germany (+5.3% per year).

In value terms, Canada ($X) constituted the largest supplier of potassium chloride (MOP) to Chile, comprising 64% of total imports. The second position in the ranking was held by Bolivia ($X), with a 25% share of total imports. It was followed by Germany, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Canada totaled +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+115.5% per year) and Germany (+6.9% per year).

Import Prices by Country

In 2022, the average potassium chloride (MOP) import price amounted to $X per ton, rising by 11% against the previous year. In general, the import price, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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