Latin America and the Caribbean: Market for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers 2024

Market Size for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in Latin America and the Caribbean

For the fourth year in a row, the Latin American market for carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers recorded growth in sales value, which increased by 43% to $X in 2022. The total consumption indicated measured 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, consumption increased by +99.6% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in Latin America and the Caribbean

In value terms, production of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 21%. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Exports in Latin America and the Caribbean

In 2022, shipments abroad of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers decreased by -0.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 71%. The volume of export peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers soared to $X in 2022. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 50% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Chile (X tons) represented the key exporter of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, comprising 47% of total exports. Brazil (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Honduras (12%), Guatemala (11%) and the Dominican Republic (8%). Colombia (X tons) held a relatively small share of total exports.

Exports from Chile increased at an average annual rate of +26.1% from 2012 to 2022. At the same time, Brazil (+27.6%), Honduras (+22.0%) and the Dominican Republic (+8.4%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +27.6% from 2012-2022. By contrast, Guatemala (-8.8%) and Colombia (-9.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Brazil, Honduras and the Dominican Republic increased by +39, +14, +9.1 and +2 percentage points, respectively.

In value terms, Chile ($X) remains the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 12% share of total exports. It was followed by Brazil, with a 7.5% share.

In Chile, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers expanded at an average annual rate of +43.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+7.1% per year) and Brazil (+3.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 45% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+17.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Imports in Latin America and the Caribbean

In 2022, the amount of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers imported in Latin America and the Caribbean totaled X tons, surging by 14% compared with 2021. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers surged to $X in 2022. Overall, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the largest importing country with an import of about X tons, which resulted at 52% of total imports. Guatemala (X tons) ranks second in terms of the total imports with a 14% share, followed by Colombia (8.2%) and Mexico (6.5%). The following importers - Peru (X tons), Honduras (X tons), Ecuador (X tons) and Chile (X tons) - together made up 11% of total imports.

Brazil was also the fastest-growing in terms of the carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers imports, with a CAGR of +31.5% from 2012 to 2022. At the same time, Ecuador (+10.2%), Peru (+5.8%) and Guatemala (+1.0%) displayed positive paces of growth. Colombia experienced a relatively flat trend pattern. By contrast, Mexico (-1.5%), Honduras (-10.7%) and Chile (-11.9%) illustrated a downward trend over the same period. While the share of Brazil (+46 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Colombia (-5.5 p.p.), Mexico (-6.8 p.p.), Guatemala (-7.9 p.p.), Chile (-10 p.p.) and Honduras (-12.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in Latin America and the Caribbean, comprising 47% of total imports. The second position in the ranking was held by Guatemala ($X), with a 20% share of total imports. It was followed by Mexico, with a 9.2% share.

In Brazil, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers expanded at an average annual rate of +30.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guatemala (+5.0% per year) and Mexico (+3.9% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 29% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 43%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guatemala ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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