Latin America and the Caribbean: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Latin America and the Caribbean

In 2022, the Latin American nitrogenous fertilizer market increased by X% to $X, rising for the second year in a row after three years of decline. The total consumption indicated notable growth 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. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Nitrogenous Fertilizer Production in Latin America and the Caribbean

In value terms, nitrogenous fertilizer production contracted to $X in 2022 estimated in export price. In general, production, however, saw a perceptible reduction. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports in Latin America and the Caribbean

In 2022, exports of nitrogenous fertilizers (mineral or chemical) in Latin America and the Caribbean amounted to X tons, surging by X% against 2021 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer exports soared to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, Trinidad and Tobago (X tons) represented the key exporter of nitrogenous fertilizers (mineral or chemical), constituting X% of total exports. Bolivia (X tons) held the second position in the ranking, followed by Chile (X tons) and Venezuela (X tons). All these countries together held approx. X% share of total exports. The following exporters - Colombia (X tons) and Brazil (X tons) - each resulted at a X% share of total exports.

Exports from Trinidad and Tobago increased at an average annual rate of X% from 2012 to 2022. At the same time, Brazil (X%), Bolivia (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Chile (X%) and Venezuela (X%) illustrated a downward trend over the same period. Trinidad and Tobago (X p.p.), Bolivia (X p.p.), Brazil (X p.p.) and Colombia (X p.p.) significantly strengthened its position in terms of the total exports, while Venezuela saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Trinidad and Tobago ($X) remains the largest nitrogenous fertilizer supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Bolivia ($X), with a X% share of total exports. It was followed by Chile, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Trinidad and Tobago totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Bolivia (X% per year) and Chile (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see steady growth in the near future.

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

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

Nitrogenous Fertilizer Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of nitrogenous fertilizers (mineral or chemical) were imported in Latin America and the Caribbean; surging by X% compared with the year before. Total imports indicated a prominent expansion from 2012 to 2022: its volume 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, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, nitrogenous fertilizer imports soared to $X in 2022. Overall, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons) represented the key importer of nitrogenous fertilizers (mineral or chemical), mixing up X% of total imports. Argentina (X tons) ranks second in terms of the total imports with an X% share, followed by Mexico (X%), Peru (X%) and Colombia (X%). The following importers - Chile (X tons) and Uruguay (X tons) - each amounted to a X% share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Argentina (X%), Uruguay (X%), Colombia (X%), Peru (X%) and Chile (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico experienced a relatively flat trend pattern. While the share of Brazil (X p.p.) and Argentina (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (X p.p.) and Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Brazil, nitrogenous fertilizer imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: 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, rising by X% against the previous year. Import price indicated a pronounced 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, nitrogenous fertilizer import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to continue growth in the near future.

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