Jordan: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Jordan

In 2022, the Jordanian potassium sulphate (SOP) market decreased by -64.4% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a abrupt setback. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Potassium Sulphate (Sop) Exports

Exports from Jordan

In 2022, exports of potassium sulphate (SOP) from Jordan fell rapidly to X tons, declining by -51.7% on the previous year. In general, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when exports increased by 225% against the previous year. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, potassium sulphate (SOP) exports contracted to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 185%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sudan (X tons), Saudi Arabia (X tons) and Pakistan (X tons) were the main destinations of potassium sulphate (SOP) exports from Jordan, with a combined 58% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +41.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potassium sulphate (SOP) exported from Jordan were Sudan ($X), Saudi Arabia ($X) and Pakistan ($X), together accounting for 58% of total exports.

Among the main countries of destination, Pakistan, with a CAGR of +78.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, picking up by 93% against the previous year. Overall, the export price enjoyed a prominent increase. The export price peaked at $X per ton in 2017; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Algeria ($X per ton), while the average price for exports to Free Zones ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports into Jordan

In 2022, overseas purchases of potassium sulphate (SOP) decreased by -62.1% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 91% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports shrank significantly to $X in 2022. Over the period under review, imports, however, showed measured growth. The most prominent rate of growth was recorded in 2013 when imports increased by 100% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of potassium sulphate (SOP) to Jordan, with a 61% share of total imports. Moreover, potassium sulphate (SOP) imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+24.7% per year) and Sweden (-2.9% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of potassium sulphate (SOP) to Jordan, comprising 61% of total imports. The second position in the ranking was held by Egypt ($X), with a 22% share of total imports. It was followed by Sweden, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+28.3% per year) and Sweden (-0.4% per year).

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, surging by 77% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 +106.1% against 2018 indices. As a result, import price reached 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 Sweden ($X per ton) and Russia ($X per ton), while the price for Germany ($X per ton) and Egypt ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform