Kenya: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Kenya

The Kenyan potassium nitrate market reduced to $X in 2022, dropping by -14.7% 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, however, posted a notable expansion. Potassium nitrate consumption peaked at $X in 2021, and then shrank in the following year.

Potassium Nitrate Exports

Exports from Kenya

In 2022, overseas shipments of potassium nitrates decreased by -16.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 317%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, potassium nitrate exports fell to $X in 2022. In general, exports recorded a slight shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 268% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Ethiopia (X tons) was the main destination for potassium nitrate exports from Kenya, accounting for a 87% share of total exports. Moreover, potassium nitrate exports to Ethiopia exceeded the volume sent to the second major destination, Uganda (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ethiopia stood at +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-20.5% per year) and Tanzania (-34.7% per year).

In value terms, Ethiopia ($X) remains the key foreign market for potassium nitrates exports from Kenya, comprising 87% of total exports. The second position in the ranking was held by Uganda ($X), with a 9.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ethiopia amounted to +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-18.7% per year) and Tanzania (-33.7% per year).

Export Prices by Country

In 2022, the average potassium nitrate export price amounted to $X per ton, picking up by 5.9% against the previous year. In general, export price indicated perceptible growth 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. Based on 2022 figures, potassium nitrate export price decreased by -37.3% against 2017 indices. The pace of growth was the most pronounced in 2017 an increase of 106% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Uganda ($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 Somalia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Nitrate Imports

Imports into Kenya

In 2022, the amount of potassium nitrates imported into Kenya shrank to X tons, falling by -14.9% on 2021. Over the period under review, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by 378% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, potassium nitrate imports reduced to $X in 2022. In general, imports, however, showed a notable expansion. The pace of growth appeared the most rapid in 2016 with an increase of 443%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

The Netherlands (X tons), Jordan (X tons) and South Africa (X tons) were the main suppliers of potassium nitrate imports to Kenya, together comprising 67% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +35.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), the Netherlands ($X) and South Africa ($X) were the largest potassium nitrate suppliers to Kenya, with a combined 64% share of total imports.

The Netherlands, with a CAGR of +30.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average potassium nitrate import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2016 an increase of 14%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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