Hungary: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2024

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports from Hungary

In 2022, overseas shipments of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution decreased by -18.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 149%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a deep slump. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution from Hungary, accounting for a 65% share of total exports. Moreover, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution to the Czech Republic exceeded the volume sent to the second major destination, Slovakia (X tons), threefold. The third position in this ranking was held by Austria (X tons), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic totaled -17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-20.6% per year) and Austria (-7.3% per year).

In value terms, the Czech Republic ($X) emerged as the key foreign market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exports from Hungary, comprising 64% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 26% share of total exports. It was followed by Croatia, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic amounted to -9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-11.6% per year) and Croatia (-4.7% per year).

Export Prices by Country

In 2022, the average export price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution amounted to $X per ton, with an increase of 182% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. 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 Croatia ($X per ton), while the average price for exports to Austria ($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 Croatia (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports into Hungary

In 2022, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution into Hungary expanded markedly to X tons, increasing by 5.1% on the previous year. Overall, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 121%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution skyrocketed to $X in 2022. In general, imports showed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 121% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Slovakia (X tons), Serbia (X tons) and Romania (X tons) were the main suppliers of imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution to Hungary, with a combined 89% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +85.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution suppliers to Hungary were Slovakia ($X), Serbia ($X) and Croatia ($X), with a combined 90% share of total imports. These countries were followed by Romania, Bulgaria and Poland, which together accounted for a further 8.6%.

Romania, with a CAGR of +108.1%, 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 import price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution amounted to $X per ton, surging by 107% against the previous year. Overall, the import price posted a prominent increase. As a result, import price attained 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 Bulgaria ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+35.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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