Hungary: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Hungary

In 2022, the Hungarian potassium chloride (MOP) market decreased by -42.6% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption recorded a perceptible downturn. Potassium chloride (MOP) consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Potassium Chloride (Mop) Exports

Exports from Hungary

In 2022, overseas shipments of potassium chloride (MOP) increased by 3.4% to X tons, rising for the third year in a row after six years of decline. Overall, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 78% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, potassium chloride (MOP) exports surged to $X in 2022. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 80% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Lithuania (X tons) was the main destination for potassium chloride (MOP) exports from Hungary, with a 68% share of total exports. Moreover, potassium chloride (MOP) 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 a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at +2,563,308.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-5.6% per year) and Poland (+266.9% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for potassium chloride (MOP) exports from Hungary, comprising 69% of total exports. The second position in the ranking was held by Poland ($X), with a 13% share of total exports. It was followed by Slovakia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Lithuania amounted to +1,466,834.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+465.3% per year) and Slovakia (-5.2% per year).

Export Prices by Country

In 2022, the average potassium chloride (MOP) export price amounted to $X per ton, surging by 67% 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 +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium chloride (MOP) export price increased by +68.8% 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 Croatia ($X per ton), while the average price for exports to the Czech Republic ($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 Poland (+54.1%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Chloride (Mop) Imports

Imports into Hungary

After three years of growth, overseas purchases of potassium chloride (MOP) decreased by -41.3% to X tons in 2022. Over the period under review, imports saw a noticeable contraction. The pace of growth appeared the most rapid in 2019 with an increase of 66%. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped rapidly in the following year.

In value terms, potassium chloride (MOP) imports dropped rapidly to $X in 2022. Overall, imports showed a noticeable shrinkage. The growth pace was the most rapid in 2021 with an increase of 39% against the previous year. Over the period under review, imports attained the maximum 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 potassium chloride (MOP) to Hungary, accounting for a 90% share of total imports. Moreover, potassium chloride (MOP) 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 taken by Slovakia (X tons), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-26.1% per year) and Slovakia (+7.2% per year).

In value terms, Germany ($X) constituted the largest supplier of potassium chloride (MOP) to Hungary, comprising 82% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 6.9% share of total imports. It was followed by Russia, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-8.2% per year) and Russia (-24.3% per year).

Import Prices by Country

The average potassium chloride (MOP) import price stood at $X per ton in 2022, growing by 8.4% against the previous year. In general, the import price, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2018 an increase of 83%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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 (+13.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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