Guatemala: Phosphatic Fertilizer Market 2024

Phosphatic Fertilizer Market Size in Guatemala

In 2022, the Guatemalan phosphatic fertilizer market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption saw a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Phosphatic Fertilizer Production in Guatemala

In value terms, phosphatic fertilizer production shrank slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Phosphatic Fertilizer Exports

Exports from Guatemala

In 2022, overseas shipments of phosphatic fertilizers decreased by X% to X tons, falling for the fourth year in a row after four years of growth. In general, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, phosphatic fertilizer exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Costa Rica (X tons), Ecuador (X tons) and Honduras (X tons) were the main destinations of phosphatic fertilizer exports from Guatemala, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X) remains the key foreign market for phosphatic fertilizers exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Honduras, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Costa Rica stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Honduras (X% per year).

Export Prices by Country

The average phosphatic fertilizer export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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

Phosphatic Fertilizer Imports

Imports into Guatemala

In 2022, imports of phosphatic fertilizers into Guatemala reduced dramatically to X tons, declining by X% compared with the previous year. Over the period under review, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphatic fertilizer imports reduced markedly to $X in 2022. In general, imports recorded a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) was the main phosphatic fertilizer supplier to Guatemala, with a X% share of total imports. Moreover, phosphatic fertilizer imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Panama (X% per year).

In value terms, Spain ($X) constituted the largest supplier of phosphatic fertilizers to Guatemala, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Panama (X% per year).

Import Prices by Country

In 2022, the average phosphatic fertilizer import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phosphatic fertilizer import price increased by X% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Panama ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform