Latin America and the Caribbean: Fertilizer Market 2024

Fertilizer Market Size in Latin America and the Caribbean

The Latin American fertilizer market rose markedly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Fertilizer Production in Latin America and the Caribbean

In value terms, fertilizer production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced descent. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Fertilizer Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of fertilizers increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, fertilizer exports soared to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X tons) and Trinidad and Tobago (X tons) prevails in exports structure, together making up X% of total exports. Bolivia (X tons) held the next position in the ranking, followed by Brazil (X tons). All these countries together took near X% share of total exports. Venezuela (X tons), Colombia (X tons) and Mexico (X tons) held a little share of total exports.

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

In value terms, the largest fertilizer supplying countries in Latin America and the Caribbean were Chile ($X), Trinidad and Tobago ($X) and Brazil ($X), with a combined X% share of total exports. Bolivia, Colombia, Venezuela and Mexico lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Bolivia, with a CAGR of X%, recorded 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Fertilizer Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of fertilizers were imported in Latin America and the Caribbean; with an increase of X% against the previous year's figure. Overall, imports posted a strong increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, fertilizer imports surged to $X in 2022. In general, imports showed strong growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Brazil prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Argentina (X tons), making up a X% share of total imports. Mexico (X tons), Colombia (X tons), Peru (X tons), Uruguay (X tons), Paraguay (X tons), Ecuador (X tons) and Chile (X tons) took a little share of total imports.

Brazil was also the fastest-growing in terms of the fertilizers imports, with a CAGR of X% from 2012 to 2022. At the same time, Argentina (X%), Uruguay (X%), Colombia (X%), Ecuador (X%), Paraguay (X%), Peru (X%) and Chile (X%) displayed positive paces of growth. Mexico experienced a relatively flat trend pattern. While the share of Brazil (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported fertilizers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Mexico (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Argentina ($X per ton) and Chile ($X per ton), while Ecuador ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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