Indonesia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Indonesia

The Indonesian NPK fertilizer market reduced to $X in 2022, with a decrease of -7% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption peaked at $X in 2021, and then reduced in the following year.

Npk Fertilizer Production in Indonesia

In value terms, NPK fertilizer production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 37% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Npk Fertilizer Exports

Exports from Indonesia

In 2022, exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers from Indonesia dropped dramatically to X tons, falling by -18.2% on 2021. In general, exports saw a dramatic downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 174% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, NPK fertilizer exports rose sharply to $X in 2022. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 319%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for NPK fertilizer exports from Indonesia, with a 53% share of total exports. Moreover, NPK fertilizer exports to Malaysia exceeded the volume sent to the second major destination, the Philippines (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at -24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+6.2% per year) and Japan (+57.2% per year).

In value terms, Malaysia ($X) remains the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Indonesia, comprising 73% of total exports. The second position in the ranking was held by Japan ($X), with a 10% share of total exports. It was followed by the Philippines, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+65.4% per year) and the Philippines (-3.4% per year).

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, rising by 39% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 an increase of 53% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the Philippines ($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 Malaysia (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Indonesia

After two years of growth, overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -44.7% to X tons in 2022. In general, imports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 93% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, NPK fertilizer imports shrank slightly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 59%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of NPK fertilizer to Indonesia, with a 51% share of total imports. Moreover, NPK fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, Norway (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-11.1% per year) and Malaysia (-10.5% per year).

In value terms, Russia ($X) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Indonesia, comprising 50% of total imports. The second position in the ranking was taken by Norway ($X), with a 19% share of total imports. It was followed by Malaysia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Russia totaled +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-7.8% per year) and Malaysia (-9.6% per year).

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, growing by 72% against the previous year. Overall, the import price posted a pronounced increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Norway ($X per ton) and China ($X per ton), while the price for Malaysia ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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