Colombia: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Colombia

In 2022, after three years of growth, there was significant decline in the Colombian monoammonium phosphate market, when its value decreased by -9.1% to $X. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.5% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2021, and then fell in the following year.

Monoammonium Phosphate Production in Colombia

In value terms, monoammonium phosphate production fell slightly to $X in 2022 estimated in export price. Overall, production showed a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 197% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports from Colombia

In 2022, approx. X tons of monoammonium phosphate (MAP) were exported from Colombia; rising by 48% against the previous year. Overall, exports posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 3,373%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, monoammonium phosphate exports skyrocketed to $X in 2022. Over the period under review, exports saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 2,780%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons) was the main destination for monoammonium phosphate exports from Colombia, accounting for a 97% share of total exports. It was followed by Peru (X tons), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela stood at +49.2%.

In value terms, Venezuela ($X) remains the key foreign market for monoammonium phosphate (MAP) exports from Colombia, comprising 96% of total exports. The second position in the ranking was held by Peru ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Venezuela totaled +44.7%.

Export Prices by Country

In 2022, the average monoammonium phosphate export price amounted to $X per ton, declining by -1.6% against the previous year. Overall, the export price saw a deep setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 21%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Peru amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (-3.0%).

Monoammonium Phosphate Imports

Imports into Colombia

In 2022, approx. X tons of monoammonium phosphate (MAP) were imported into Colombia; with an increase of 6.5% on the previous year. The total import volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 45%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports dropped rapidly to $X in 2022. Over the period under review, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.2% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of monoammonium phosphate to Colombia, with a 50% share of total imports. Moreover, monoammonium phosphate imports from the United States exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+43.2% per year) and Mexico (+23.4% per year).

In value terms, the United States ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Colombia, comprising 58% of total imports. The second position in the ranking was taken by Russia ($X), with a 19% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+37.0% per year) and China (+31.6% per year).

Import Prices by Country

The average monoammonium phosphate import price stood at $X per ton in 2022, waning by -23.3% against the previous year. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2021 an increase of 78%. As a result, import price reached the peak level of $X per ton, and then reduced markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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