Iran: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in Iran

The Iranian mixed fertilizer market declined rapidly to $X in 2022, waning by -16.6% 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). Over the period under review, consumption recorded a abrupt curtailment. Mixed fertilizer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Mixed Fertilizer Exports

Exports from Iran

In 2022, overseas shipments of mixed fertilizers decreased by -7.8% to X tons, falling for the third consecutive year after five years of growth. Over the period under review, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 366%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, mixed fertilizer exports expanded markedly to $X in 2022. In general, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 412%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iraq (X tons) was the main destination for mixed fertilizer exports from Iran, accounting for a 77% share of total exports. Moreover, mixed fertilizer exports to Iraq exceeded the volume sent to the second major destination, Afghanistan (X tons), fivefold. The third position in this ranking was held by Pakistan (X tons), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq totaled +26.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (+26.6% per year) and Pakistan (+12.8% per year).

In value terms, Iraq ($X) remains the key foreign market for mixed fertilizers exports from Iran, comprising 68% of total exports. The second position in the ranking was taken by Afghanistan ($X), with a 14% share of total exports. It was followed by Armenia, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq totaled +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (+34.8% per year) and Armenia (-6.3% per year).

Export Prices by Country

In 2022, the average mixed fertilizer export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the export price showed a moderate increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 125%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Pakistan ($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 Afghanistan (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Iran

In 2022, the amount of mixed fertilizers imported into Iran reduced to X tons, waning by -14.1% on 2021 figures. Over the period under review, imports faced a deep contraction. The growth pace was the most rapid in 2018 with an increase of 236%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, mixed fertilizer imports dropped to $X in 2022. Overall, imports faced a drastic downturn. The growth pace was the most rapid in 2018 when imports increased by 161% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of mixed fertilizer to Iran, with a 41% share of total imports. Moreover, mixed fertilizer imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Russia (X tons), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.3% per year) and Russia (-33.9% per year).

In value terms, China ($X), Turkey ($X) and Italy ($X) were the largest mixed fertilizer suppliers to Iran, together comprising 44% of total imports.

Turkey, with a CAGR of +9.4%, recorded the highest rates of growth with regard to 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 mixed fertilizer import price stood at $X per ton in 2022, increasing by 6.4% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer import price decreased by -7.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 43% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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