Croatia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Croatia

In 2022, the Croatian NPK fertilizer market increased by 29% to $X, rising for the fourth year in a row after two years of decline. In general, consumption continues to indicate notable growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Npk Fertilizer Production in Croatia

In value terms, NPK fertilizer production declined to $X in 2022 estimated in export price. Overall, production recorded a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 21%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Npk Fertilizer Exports

Exports from Croatia

For the fifth consecutive year, Croatia recorded decline in shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, which decreased by -53.1% to X tons in 2022. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 81% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, NPK fertilizer exports fell rapidly to $X in 2022. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 54%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X tons) was the main destination for NPK fertilizer exports from Croatia, with a 42% share of total exports. Moreover, NPK fertilizer exports to Hungary exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), twofold. The third position in this ranking was taken by Slovenia (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-14.0% per year) and Slovenia (-17.2% per year).

In value terms, Hungary ($X) remains the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Croatia, comprising 40% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with an 18% share of total exports. It was followed by Slovenia, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hungary stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-11.5% per year) and Slovenia (-13.4% per year).

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, jumping by 64% against the previous year. Overall, the export price posted a moderate expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Italy ($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 Slovenia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Croatia

In 2022, supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers increased by 45% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 61% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, NPK fertilizer imports surged to $X in 2022. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Serbia (X tons), Italy (X tons) and Poland (X tons) were the main suppliers of NPK fertilizer imports to Croatia, together accounting for 64% of total imports. Russia, Slovenia, Austria, Bulgaria and the Netherlands lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +127.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X), Italy ($X) and Russia ($X) constituted the largest NPK fertilizer suppliers to Croatia, together comprising 60% of total imports. Poland, Slovenia, Austria, Bulgaria and the Netherlands lagged somewhat behind, together accounting for a further 29%.

Bulgaria, with a CAGR of +213.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average NPK fertilizer import price stood at $X per ton in 2022, rising by 50% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price 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, NPK fertilizer import price increased by +85.9% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+37.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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