Cuba: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Cuba

The Cuban nitrogenous fertilizer market reached $X in 2022, approximately reflecting the previous year. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Nitrogenous Fertilizer Production in Cuba

In value terms, nitrogenous fertilizer production rose slightly to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 79% against the previous year. Nitrogenous fertilizer production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Nitrogenous Fertilizer Exports

Exports from Cuba

In 2022, after three years of growth, there was decline in shipments abroad of nitrogenous fertilizers (mineral or chemical), when their volume decreased by less than 0.1% to X tons. In general, exports showed a deep slump. The pace of growth appeared the most rapid in 2013 when exports increased by 42% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, nitrogenous fertilizer exports expanded modestly to $X in 2022. Over the period under review, exports faced a sharp setback. The most prominent rate of growth was recorded in 2013 when exports increased by 91%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for nitrogenous fertilizer exports from Cuba, with a 44% share of total exports. Moreover, nitrogenous fertilizer exports to France exceeded the volume sent to the second major destination, Suriname (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to France was relatively modest.

In value terms, the largest markets for nitrogenous fertilizer exported from Cuba were France ($X) and Suriname ($X).

Among the main countries of destination, France, with a CAGR of -5.5%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average nitrogenous fertilizer export price amounted to $X per ton, with an increase of 2.3% against the previous year. Over the period under review, the export price, however, saw a abrupt setback. The pace of growth was the most pronounced in 2013 an increase of 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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 Suriname ($X per ton), while the average price for exports to France stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Suriname (+2.4%).

Nitrogenous Fertilizer Imports

Imports into Cuba

In 2022, after three years of growth, there was decline in overseas purchases of nitrogenous fertilizers (mineral or chemical), when their volume decreased by -4.8% to X tons. Over the period under review, imports, however, recorded a mild expansion. The pace of growth was the most pronounced in 2019 with an increase of 177%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, nitrogenous fertilizer imports dropped to $X in 2022. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 142% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

The Netherlands (X tons), Spain (X tons) and China (X tons) were the main suppliers of nitrogenous fertilizer imports to Cuba, together comprising 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +27.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of nitrogenous fertilizers (mineral or chemical) to Cuba, comprising 14% of total imports. The second position in the ranking was taken by Spain ($X), with a 4.1% share of total imports. It was followed by Russia, with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +68.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+8.0% per year) and Russia (-27.2% per year).

Import Prices by Country

In 2022, the average nitrogenous fertilizer import price amounted to $X per ton, shrinking by -4.5% against the previous year. Overall, the import price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 167%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then contracted slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($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 Netherlands (+32.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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