Greece: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Greece

In 2022, the Greek NPK fertilizer market increased by 11% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated tangible 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, consumption increased by +41.5% against 2019 indices. Consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Npk Fertilizer Production in Greece

In value terms, NPK fertilizer production soared to $X in 2022 estimated in export price. In general, production, however, recorded a mild slump. The growth pace was the most rapid in 2014 with an increase of 75%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Npk Fertilizer Exports

Exports from Greece

In 2022, exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers from Greece reduced remarkably to X tons, falling by -25.2% compared with 2021 figures. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 34%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, NPK fertilizer exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons), Romania (X tons) and Cyprus (X tons) were the main destinations of NPK fertilizer exports from Greece, with a combined 51% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +24.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for NPK fertilizer exported from Greece were Romania ($X), Bulgaria ($X) and Cyprus ($X), with a combined 49% share of total exports.

Among the main countries of destination, Romania, with a CAGR of +24.7%, recorded the highest growth rate of 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

In 2022, the average NPK fertilizer export price amounted to $X per ton, surging by 61% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer export price increased by +103.3% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Italy ($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 Albania (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Greece

In 2022, the amount of mixed nitrogen, phosphorus and potassium (NPK) fertilizers imported into Greece dropped markedly to X tons, reducing by -21.8% on the previous year's figure. In general, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 217%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, NPK fertilizer imports rose sharply to $X in 2022. Overall, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 172%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Norway (X tons), Belgium (X tons) and Italy (X tons) were the main suppliers of NPK fertilizer imports to Greece, with a combined 77% share of total imports. Germany, Poland, Finland and the Netherlands lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +56.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Belgium ($X) and Italy ($X) appeared to be the largest NPK fertilizer suppliers to Greece, with a combined 73% share of total imports. Germany, Poland, Finland and the Netherlands lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Poland, with a CAGR of +53.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, growing by 46% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +79.3% 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 Germany ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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