Latvia: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Latvia

After three years of growth, the Latvian potassium chloride (MOP) market decreased by -17.8% to $X in 2022. Over the period under review, consumption, however, enjoyed strong growth. Potassium chloride (MOP) consumption peaked at $X in 2021, and then reduced markedly in the following year.

Potassium Chloride (Mop) Exports

Exports from Latvia

In 2022, approx. X tons of potassium chloride (MOP) were exported from Latvia; rising by 22% compared with the previous year. Overall, exports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2014 with an increase of 1,324%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, potassium chloride (MOP) exports soared to $X in 2022. Over the period under review, exports posted noticeable growth. The pace of growth was the most pronounced in 2014 with an increase of 1,051%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Lithuania (X tons) was the main destination for potassium chloride (MOP) exports from Latvia, accounting for a 57% share of total exports. Moreover, potassium chloride (MOP) exports to Lithuania exceeded the volume sent to the second major destination, Poland (X tons), threefold. Estonia (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at +63.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+12.8% per year) and Estonia (-19.1% per year).

In value terms, the largest markets for potassium chloride (MOP) exported from Latvia were Lithuania ($X), Poland ($X) and Estonia ($X), together accounting for 76% of total exports. France, Romania, Finland and the Czech Republic lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, France, with a CAGR of +775.5%, saw the highest growth rate of 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

The average potassium chloride (MOP) export price stood at $X per ton in 2022, increasing by 23% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 25% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Lithuania ($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 France (+169.9%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Chloride (Mop) Imports

Imports into Latvia

In 2022, supplies from abroad of potassium chloride (MOP) decreased by -22.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 179% against the previous year. Imports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, potassium chloride (MOP) imports contracted to $X in 2022. In general, imports, however, saw a strong expansion. The growth pace was the most rapid in 2019 when imports increased by 169% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest potassium chloride (MOP) supplier to Latvia, accounting for a 70% share of total imports. Moreover, potassium chloride (MOP) imports from Russia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at +54.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+15.6% per year) and Germany (+204.0% per year).

In value terms, Russia ($X) constituted the largest supplier of potassium chloride (MOP) to Latvia, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 21% share of total imports. It was followed by Lithuania, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to +49.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+207.9% per year) and Lithuania (+9.5% per year).

Import Prices by Country

In 2022, the average potassium chloride (MOP) import price amounted to $X per ton, surging by 14% against the previous year. In general, the import price, however, showed a pronounced reduction. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 Poland ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform