Hungary: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Hungary

After three years of growth, the Hungarian potassic fertilizer market decreased by X% to $X in 2022. In general, consumption saw a perceptible slump. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped markedly in the following year.

Potassic Fertilizer Exports

Exports from Hungary

In 2022, shipments abroad of potassic fertilizers increased by X% to X tons, rising for the third year in a row after six years of decline. Over the period under review, exports recorded resilient growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, potassic fertilizer exports soared to $X in 2022. In general, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons) was the main destination for potassic fertilizer exports from Hungary, accounting for a X% share of total exports. Moreover, potassic fertilizer exports to Lithuania exceeded the volume sent to the second major destination, Slovakia (X tons), fivefold. Poland (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at X,770.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (X% per year) and Poland (X% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for potassic fertilizers exports from Hungary, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with a X% share of total exports. It was followed by Slovakia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania stood at X,309.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Slovakia (X% per year).

Export Prices by Country

In 2022, the average potassic fertilizer export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated a slight expansion 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to the Czech Republic ($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 Serbia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Potassic Fertilizer Imports

Imports into Hungary

In 2022, purchases abroad of potassic fertilizers decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, potassic fertilizer imports shrank sharply to $X in 2022. In general, imports saw a pronounced descent. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of potassic fertilizer to Hungary, with a X% share of total imports. Moreover, potassic fertilizer imports from Germany exceeded the figures recorded by the second-largest supplier, Russia (X tons), more than tenfold. The third position in this ranking was held by Slovakia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Slovakia (X% per year).

In value terms, Germany ($X) constituted the largest supplier of potassic fertilizers to Hungary, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Russia (X% per year).

Import Prices by Country

In 2022, the average potassic fertilizer import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a mild decrease. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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