Lithuania: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in Lithuania

In 2022, the Lithuanian mixed fertilizer market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption showed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Mixed Fertilizer Production in Lithuania

In value terms, mixed fertilizer production contracted rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Mixed Fertilizer Exports

Exports from Lithuania

After three years of growth, overseas shipments of mixed fertilizers decreased by -61.8% to X tons in 2022. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 18%. Over the period under review, the exports hit record highs at X tons in 2021, and then fell rapidly in the following year.

In value terms, mixed fertilizer exports contracted remarkably to $X in 2022. Over the period under review, exports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2021 when exports increased by 63% against the previous year. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

The United States (X tons), Latvia (X tons) and Poland (X tons) were the main destinations of mixed fertilizer exports from Lithuania, with a combined 56% share of total exports. Ukraine, Estonia, Germany, Slovakia, Belgium, the UK, Brazil, Ghana, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +106.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixed fertilizer exported from Lithuania were the United States ($X), Poland ($X) and Ukraine ($X), together comprising 53% of total exports. Latvia, Germany, Belgium, the UK, the Netherlands, Slovakia, Estonia, the Czech Republic, Brazil and Ghana lagged somewhat behind, together comprising a further 33%.

Ghana, with a CAGR of +101.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mixed fertilizer export price stood at $X per ton in 2022, with an increase of 36% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer export price increased by +108.7% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Estonia ($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 the Netherlands (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Lithuania

After three years of growth, purchases abroad of mixed fertilizers decreased by -51.3% to X tons in 2022. In general, imports saw a noticeable decline. The pace of growth was the most pronounced in 2015 when imports increased by 33%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced notably in the following year.

In value terms, mixed fertilizer imports contracted sharply to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 54%. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

Finland (X tons), Morocco (X tons) and Poland (X tons) were the main suppliers of mixed fertilizer imports to Lithuania, together accounting for 44% of total imports. Latvia, Kazakhstan, Russia, the Netherlands, Belarus and Norway lagged somewhat behind, together comprising a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +114.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed fertilizer suppliers to Lithuania were Finland ($X), Morocco ($X) and Poland ($X), together comprising 52% of total imports. The Netherlands, Latvia, Russia, Kazakhstan, Belarus and Norway lagged somewhat behind, together accounting for a further 38%.

Norway, with a CAGR of +118.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average mixed fertilizer import price amounted to $X per ton, increasing by 52% against the previous year. Over the period under review, the import price enjoyed moderate growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform