Hungary: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Hungary

In 2022, the Hungarian NPK fertilizer market increased by 16% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +41.4% against 2020 indices. Consumption peaked in 2022 and is expected to retain growth in the immediate term.

Npk Fertilizer Production in Hungary

In value terms, NPK fertilizer production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 76% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Npk Fertilizer Exports

Exports from Hungary

In 2022, exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers from Hungary declined sharply to X tons, with a decrease of -23.6% compared with 2021. Overall, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 53%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, NPK fertilizer exports rose significantly to $X in 2022. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 67%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Slovakia (X tons), Romania (X tons) and Croatia (X tons) were the main destinations of NPK fertilizer exports from Hungary, with a combined 82% share of total exports. Ukraine, Slovenia, the Czech Republic and Serbia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ukraine (with a CAGR of +62.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for NPK fertilizer exported from Hungary were Slovakia ($X), Romania ($X) and Ukraine ($X), together comprising 81% of total exports. Croatia, the Czech Republic, Slovenia and Serbia lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Slovenia, with a CAGR of +45.7%, saw 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, increasing by 50% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 +97.4% against 2020 indices. As a result, the export price reached 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 the Czech Republic ($X per ton), while the average price for exports to Croatia ($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 Slovakia (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Hungary

In 2022, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -24.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 2017 with an increase of 59% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, NPK fertilizer imports surged to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 49%. 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

Austria (X tons), Poland (X tons) and Serbia (X tons) were the main suppliers of NPK fertilizer imports to Hungary, with a combined 59% share of total imports. Slovenia, Romania, Croatia, Russia, Belgium, Slovakia and Finland lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +108.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Poland ($X) and Serbia ($X) were the largest NPK fertilizer suppliers to Hungary, together accounting for 59% of total imports. Slovenia, Croatia, Russia, Romania, Belgium, Slovakia and Finland lagged somewhat behind, together comprising a further 27%.

Slovenia, with a CAGR of +121.7%, recorded the highest rates of growth with regard to the value of imports, among 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 NPK fertilizer import price amounted to $X per ton, surging by 61% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 +114.5% 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 Slovakia ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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