ECOWAS: Market for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers 2024

Market Size for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in ECOWAS

After four years of growth, the ECOWAS market for carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers decreased by -30.8% to $X in 2022. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped dramatically in the following year.

Production of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in ECOWAS

In value terms, production of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers rose to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable descent. The most prominent rate of growth was recorded in 2020 with an increase of 11%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Exports in ECOWAS

In 2022, after four years of decline, there was significant growth in shipments abroad of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when their volume increased by 11% to X tons. Overall, exports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of 146% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers dropped to $X in 2022. In general, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 158% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Togo represented the major exporting country with an export of around X tons, which recorded 85% of total exports. It was distantly followed by Senegal (X tons), constituting an 11% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers exports, with a CAGR of +46.8% from 2012 to 2022. At the same time, Senegal (+3.6%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-25.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo and Senegal increased by +85 and +9.7 percentage points, respectively.

In value terms, Togo ($X) remains the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers supplier in ECOWAS, comprising 94% of total exports. The second position in the ranking was held by Senegal ($X), with a 3.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo stood at +39.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+5.6% per year) and Cote d'Ivoire (-32.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, falling by -16.5% against the previous year. In general, the export price, however, showed resilient growth. The pace of growth appeared the most rapid in 2013 an increase of 121%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then declined significantly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+2.0%), while the other leaders experienced a decline in the export price figures.

Imports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Imports in ECOWAS

After two years of growth, overseas purchases of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers decreased by -33% to X tons in 2022. In general, imports recorded a perceptible decrease. The growth pace was the most rapid in 2020 with an increase of 95% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers contracted remarkably to $X in 2022. Overall, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 48%. Over the period under review, imports of reached the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana represented the main importing country with an import of about X tons, which finished at 66% of total imports. Nigeria (X tons) took the second position in the ranking, distantly followed by Mali (X tons) and Senegal (X tons). All these countries together held approx. 28% share of total imports. Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers imports into Ghana stood at -4.1%. At the same time, Senegal (+39.5%), Gambia (+18.1%) and Nigeria (+9.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.5% from 2012-2022. By contrast, Mali (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Senegal and Gambia increased by +11, +5.9 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Mali ($X), together comprising 88% of total imports. Senegal and Gambia lagged somewhat behind, together accounting for a further 9.3%.

Senegal, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -10.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 51% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+10.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform