India: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in India

The Indian potassium chloride (MOP) market surged to $X in 2022, jumping by 57% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Potassium Chloride (Mop) Production in India

In value terms, potassium chloride (MOP) production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 98% against the previous year. Potassium chloride (MOP) production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Potassium Chloride (Mop) Exports

Exports from India

Potassium chloride (MOP) exports from India dropped dramatically to X tons in 2022, falling by -66.9% against 2021. Over the period under review, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 3,779% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, potassium chloride (MOP) exports plummeted to $X in 2022. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 2,914% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Australia (X tons) and Gabon (X tons) were the main destinations of potassium chloride (MOP) exports from India, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Gabon (with a CAGR of +27,989.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United Arab Emirates ($X) and Gabon ($X) constituted the largest markets for potassium chloride (MOP) exported from India worldwide, with a combined 57% share of total exports.

Gabon, with a CAGR of +15,195.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 potassium chloride (MOP) export price amounted to $X per ton, with an increase of 52% against the previous year. In general, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 220%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the United Arab Emirates ($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 Malawi (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Chloride (Mop) Imports

Imports into India

In 2022, potassium chloride (mop) imports into India surged to X tons, increasing by 39% against the year before. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.7% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 46% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, potassium chloride (MOP) imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest potassium chloride (MOP) supplier to India, accounting for a 49% share of total imports. Moreover, potassium chloride (MOP) imports from Canada exceeded the figures recorded by the second-largest supplier, Jordan (X tons), twofold. The third position in this ranking was taken by Israel (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Canada amounted to +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+16.9% per year) and Israel (+4.5% per year).

In value terms, Canada ($X), Israel ($X) and Jordan ($X) constituted the largest potassium chloride (MOP) suppliers to India, with a combined 85% share of total imports.

In terms of the main suppliers, Canada, with a CAGR of +13.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potassium chloride (MOP) import price stood at $X per ton in 2022, with an increase of 23% against the previous year. In general, the import price, however, showed a noticeable slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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