Hong Kong SAR, China: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in Hong Kong SAR, China

The Hong Kong mixed fertilizer market expanded rapidly to $X in 2022, picking up by 7.1% against the previous year. Overall, consumption, however, continues to indicate a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Mixed Fertilizer Production in Hong Kong SAR, China

In value terms, mixed fertilizer production rose notably to $X in 2022 estimated in export price. In general, production, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 with an increase of 25% against the previous year. Mixed fertilizer production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Mixed Fertilizer Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of mixed fertilizers decreased by -25.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a perceptible increase. The pace of growth was the most pronounced in 2017 with an increase of 272% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, mixed fertilizer exports reduced remarkably to $X in 2022. Overall, exports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 349% against the previous year. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

China (X tons) was the main destination for mixed fertilizer exports from Hong Kong SAR, accounting for a 58% share of total exports. Moreover, mixed fertilizer exports to China exceeded the volume sent to the second major destination, Australia (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +31.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+43.5% per year) and Thailand (+22.4% per year).

In value terms, China ($X) remains the key foreign market for mixed fertilizers exports from Hong Kong SAR, comprising 82% of total exports. The second position in the ranking was taken by Australia ($X), with a 9.2% share of total exports. It was followed by Thailand, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +42.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+46.7% per year) and Thailand (+36.1% per year).

Export Prices by Country

The average mixed fertilizer export price stood at $X per ton in 2022, with an increase of 9.9% against the previous year. In general, the export price recorded a resilient expansion. The growth pace was the most rapid in 2018 an increase of 125%. 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 China ($X per ton), while the average price for exports to Malaysia ($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 Thailand (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of mixed fertilizers were imported into Hong Kong SAR; picking up by 145% against the previous year. Overall, imports showed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, mixed fertilizer imports surged to $X in 2022. Over the period under review, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and the United States (X tons) were the main suppliers of mixed fertilizer imports to Hong Kong SAR, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +70.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed fertilizer suppliers to Hong Kong SAR were the Netherlands ($X), Belgium ($X) and the United States ($X), with a combined 87% share of total imports.

Belgium, with a CAGR of +86.4%, recorded the highest rates of growth with regard to 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

In 2022, the average mixed fertilizer import price amounted to $X per ton, with a decrease of -27.4% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 53%. As a result, import price attained the peak level of $X per ton, and then fell rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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