Malaysia: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Malaysia

The Malaysian potassium chloride (MOP) market soared to $X in 2022, increasing by 89% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Potassium Chloride (Mop) Exports

Exports from Malaysia

In 2022, shipments abroad of potassium chloride (MOP) increased by 43% to X tons, rising for the second year in a row after two years of decline. In general, exports enjoyed mild growth. The most prominent rate of growth was recorded in 2021 with an increase of 165% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, potassium chloride (MOP) exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 229%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Papua New Guinea (X tons) was the main destination for potassium chloride (MOP) exports from Malaysia, accounting for a 86% share of total exports. Moreover, potassium chloride (MOP) exports to Papua New Guinea exceeded the volume sent to the second major destination, Solomon Islands (X tons), more than tenfold. The third position in this ranking was held by Brunei Darussalam (X tons), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume to Papua New Guinea amounted to +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Solomon Islands (+17.1% per year) and Brunei Darussalam (+17.3% per year).

In value terms, Papua New Guinea ($X) remains the key foreign market for potassium chloride (MOP) exports from Malaysia, comprising 79% of total exports. The second position in the ranking was held by Vietnam ($X), with a 10% share of total exports. It was followed by Solomon Islands, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Papua New Guinea totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+36.8% per year) and Solomon Islands (+7.0% per year).

Export Prices by Country

The average potassium chloride (MOP) export price stood at $X per ton in 2022, dropping by -15.7% against the previous year. Overall, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Brunei Darussalam ($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 Singapore (+14.8%), while the prices for the other major destinations experienced a decline.

Potassium Chloride (Mop) Imports

Imports into Malaysia

For the third consecutive year, Malaysia recorded growth in purchases abroad of potassium chloride (MOP), which increased by 88% to X tons in 2022. Overall, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, potassium chloride (MOP) imports surged to $X in 2022. Over the period under review, imports showed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of potassium chloride (MOP) to Malaysia, with a 40% share of total imports. Moreover, potassium chloride (MOP) imports from Canada exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Lithuania (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Canada amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+19.7% per year) and Lithuania (+23.8% per year).

In value terms, Canada ($X) constituted the largest supplier of potassium chloride (MOP) to Malaysia, comprising 39% of total imports. The second position in the ranking was held by Russia ($X), with a 19% share of total imports. It was followed by Lithuania, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+13.0% per year) and Lithuania (+16.0% per year).

Import Prices by Country

The average potassium chloride (MOP) import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price, however, saw a drastic downturn. The growth pace was the most rapid in 2018 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Jordan ($X per ton) and Russia ($X per ton), while the price for Belarus ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (-5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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