Latin America and the Caribbean: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Latin America and the Caribbean

After two years of growth, the Latin American diammonium phosphate market decreased by -15% to $X in 2022. In general, consumption showed a slight reduction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Diammonium Phosphate Production in Latin America and the Caribbean

In value terms, diammonium phosphate production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild reduction. The pace of growth was the most pronounced in 2016 with an increase of 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Diammonium Phosphate Exports

Exports in Latin America and the Caribbean

In 2022, after three years of decline, there was significant growth in overseas shipments of diammonium phosphate, when their volume increased by 5.4% to X tons. Over the period under review, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 when exports increased by 169% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, diammonium phosphate exports totaled $X in 2022. Overall, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 199% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Peru was the major exporter of diammonium phosphate in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was near 53% of total exports in 2022. Honduras (X tons) ranks second in terms of the total exports with a 19% share, followed by Mexico (7.6%), Guatemala (7.2%) and El Salvador (4.8%). The Dominican Republic (X tons) followed a long way behind the leaders.

Exports from Peru increased at an average annual rate of +10.6% from 2012 to 2022. At the same time, Honduras (+14.4%), the Dominican Republic (+11.8%), Guatemala (+4.8%) and El Salvador (+4.3%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.4% from 2012-2022. By contrast, Mexico (-37.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Peru, Honduras, Guatemala, El Salvador and the Dominican Republic increased by +51, +18, +6.7, +4.5 and +3.8 percentage points, respectively.

In value terms, Peru ($X) remains the largest diammonium phosphate supplier in Latin America and the Caribbean, comprising 48% of total exports. The second position in the ranking was held by Honduras ($X), with a 15% share of total exports. It was followed by Guatemala, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Peru totaled +7.5%. In the other countries, the average annual rates were as follows: Honduras (+9.2% per year) and Guatemala (+9.1% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -4.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 48% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Diammonium Phosphate Imports

Imports in Latin America and the Caribbean

After two years of growth, supplies from abroad of diammonium phosphate decreased by -28.4% to X tons in 2022. In general, imports recorded a noticeable setback. The pace of growth appeared the most rapid in 2020 when imports increased by 19% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, diammonium phosphate imports reduced to $X in 2022. Overall, imports recorded a slight decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 74% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of diammonium phosphate, namely Argentina, Brazil, Peru and Colombia, represented more than half of total import. Uruguay (X tons) took a 7.2% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (6.9%), Ecuador (6.2%), Mexico (5.6%) and Honduras (5.2%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ecuador (with a CAGR of +7.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Peru ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 53% of total imports.

Argentina, with a CAGR of +5.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 28% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, diammonium phosphate import price increased by +102.3% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 58%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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