India: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in India

The Indian monoammonium phosphate market skyrocketed to $X in 2022, rising by 236% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Monoammonium Phosphate Exports

Exports from India

In 2022, monoammonium phosphate exports from India soared to X tons, jumping by 1,562% against the year before. In general, exports enjoyed a prominent increase. The growth pace was the most rapid in 2019 when exports increased by 5,506%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, monoammonium phosphate exports skyrocketed to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 2,060%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Malaysia (X tons) was the main destination for monoammonium phosphate exports from India, with a 65% share of total exports. Moreover, monoammonium phosphate exports to Malaysia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled +160,056.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+82.8% per year) and South Korea (+60.9% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for monoammonium phosphate (MAP) exports from India, comprising 68% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by South Korea, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +58,711.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+63.3% per year) and South Korea (+34.0% per year).

Export Prices by Country

In 2022, the average monoammonium phosphate export price amounted to $X per ton, which is down by -45.6% against the previous year. Over the period under review, the export price saw a abrupt shrinkage. The growth pace was the most rapid in 2015 an increase of 451%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nepal ($X per ton), while the average price for exports to the United Arab Emirates ($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 Nepal (-4.1%), while the prices for the other major destinations experienced a decline.

Monoammonium Phosphate Imports

Imports into India

In 2022, purchases abroad of monoammonium phosphate (MAP) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 287%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, monoammonium phosphate imports surged to $X in 2022. Over the period under review, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of monoammonium phosphate to India, accounting for a 59% share of total imports. Moreover, monoammonium phosphate imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at +158.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.4% per year) and Morocco (+106.4% per year).

In value terms, Russia ($X), China ($X) and Morocco ($X) were the largest monoammonium phosphate suppliers to India, with a combined 99% share of total imports.

Russia, with a CAGR of +148.3%, recorded the highest growth rate of 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

The average monoammonium phosphate import price stood at $X per ton in 2022, growing by 28% against the previous year. In general, the import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 66% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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