Israel: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Israel

In 2022, after two years of growth, there was significant decline in the Israeli potassium sulphate (SOP) market, when its value decreased by -39.9% to $X. In general, consumption, however, posted prominent growth. Potassium sulphate (SOP) consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Potassium Sulphate (Sop) Production in Israel

In value terms, potassium sulphate (SOP) production amounted to $X in 2022 estimated in export price. In general, production saw a sharp setback. The pace of growth was the most pronounced in 2013 when the production volume decreased by 99.9%. Potassium sulphate (SOP) production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Potassium Sulphate (Sop) Exports

Exports from Israel

In 2022, the amount of potassium sulphate (SOP) exported from Israel contracted to X tons, waning by -4.6% compared with 2021 figures. In general, exports recorded a deep slump. The growth pace was the most rapid in 2019 with an increase of 501% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, potassium sulphate (SOP) exports shrank markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 432%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X tons) was the main destination for potassium sulphate (SOP) exports from Israel, with a 88% share of total exports. Moreover, potassium sulphate (SOP) exports to South Africa exceeded the volume sent to the second major destination, Paraguay (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Africa totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+4.0% per year) and Italy (-2.8% per year).

In value terms, South Africa ($X) remains the key foreign market for potassium sulphate (SOP) exports from Israel, comprising 84% of total exports. The second position in the ranking was held by Paraguay ($X), with a 6.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa stood at +21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+5.8% per year) and Italy (-27.2% per year).

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, declining by -15% against the previous year. In general, the export price saw a mild decrease. The pace of growth appeared the most rapid in 2015 an increase of 34% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Paraguay ($X per ton), while the average price for exports to Italy ($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 (+68.8%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports into Israel

In 2022, after two years of growth, there was significant decline in supplies from abroad of potassium sulphate (SOP), when their volume decreased by -51.1% to X tons. In general, imports, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2018 with an increase of 132% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell markedly in the following year.

In value terms, potassium sulphate (SOP) imports shrank to $X in 2022. Overall, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by 124% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Egypt (X tons), Belgium (X tons) and Russia (X tons) were the main suppliers of potassium sulphate (SOP) imports to Israel, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +97.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Egypt ($X), Belgium ($X) and Russia ($X) were the largest potassium sulphate (SOP) suppliers to Israel, with a combined 98% share of total imports.

Among the main suppliers, Egypt, with a CAGR of +115.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average potassium sulphate (SOP) import price stood at $X per ton in 2022, rising by 89% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) import price increased by +102.3% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Russia ($X per ton) and Sweden ($X per ton), while the price for Egypt ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+88.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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