China: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in China

The Chinese mixed fertilizer market surged to $X in 2022, rising by 21% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Mixed Fertilizer Production in China

In value terms, mixed fertilizer production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 20%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Mixed Fertilizer Exports

Exports from China

In 2022, the amount of mixed fertilizers exported from China fell markedly to X tons, declining by -38.9% against 2021. In general, exports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of 55%. The exports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, mixed fertilizer exports declined to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 85%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

India (X tons), Brazil (X tons) and Bangladesh (X tons) were the main destinations of mixed fertilizer exports from China, together accounting for 22% of total exports. Australia, Thailand, the Philippines, Vietnam, Japan, Argentina, Pakistan, Indonesia, Myanmar and Malaysia lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Brazil ($X) and Bangladesh ($X) constituted the largest markets for mixed fertilizer exported from China worldwide, with a combined 22% share of total exports. Australia, Japan, Thailand, Argentina, Vietnam, Pakistan, the Philippines, Indonesia, Malaysia and Myanmar lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Argentina, with a CAGR of +32.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mixed fertilizer export price stood at $X per ton in 2022, jumping by 53% against the previous year. Over the period under review, the export price showed a notable increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 60%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Myanmar ($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 Brazil (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into China

In 2022, the amount of mixed fertilizers imported into China contracted markedly to X tons, with a decrease of -41.6% against the previous year. In general, imports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 29% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, mixed fertilizer imports fell remarkably to $X in 2022. Overall, imports showed a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of 44%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Russia (X tons), Norway (X tons) and Belgium (X tons) were the main suppliers of mixed fertilizer imports to China, together comprising 40% of total imports. Finland, Israel, Germany and the United States lagged somewhat behind, together comprising a further 7.4%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +9.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest mixed fertilizer suppliers to China were Norway ($X), Russia ($X) and Belgium ($X), with a combined 35% share of total imports. Finland, Israel, Germany and the United States lagged somewhat behind, together accounting for a further 9.7%.

Among the main suppliers, Israel, with a CAGR of +12.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average mixed fertilizer import price stood at $X per ton in 2022, rising by 38% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer import price increased by +69.8% against 2020 indices. As a result, import price attained 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 Israel ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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