MERCOSUR: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in MERCOSUR

In 2022, the MERCOSUR diammonium phosphate market decreased by -14% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a slight curtailment. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Diammonium Phosphate Production in MERCOSUR

In value terms, diammonium phosphate production dropped to $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 64%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Diammonium Phosphate Exports

Exports in MERCOSUR

In 2022, exports of diammonium phosphate in MERCOSUR soared to X tons, with an increase of 20% against 2021. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -26.7% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 64% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, diammonium phosphate exports reached $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Peru prevails in exports structure, recording X tons, which was near 95% of total exports in 2022. The following exporters - Uruguay (X tons) and Venezuela (X tons) - each reached a 3.9% share of total exports.

Peru was also the fastest-growing in terms of the diammonium phosphate exports, with a CAGR of +10.6% from 2012 to 2022. At the same time, Uruguay (+5.3%) displayed positive paces of growth. By contrast, Venezuela (-1.4%) illustrated a downward trend over the same period. While the share of Peru (+53 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest diammonium phosphate supplier in MERCOSUR, comprising 93% of total exports. The second position in the ranking was held by Uruguay ($X), with a 3.4% share of total exports.

In Peru, diammonium phosphate exports increased at an average annual rate of +7.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Uruguay (+6.7% per year) and Venezuela (+5.2% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, reducing by -16.3% against the previous year. Over the period under review, the export price recorded a noticeable reduction. The growth pace was the most rapid in 2021 when the export price increased by 43%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Uruguay ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+6.6%), while the other leaders experienced mixed trends in the export price figures.

Diammonium Phosphate Imports

Imports in MERCOSUR

In 2022, after two years of growth, there was significant decline in purchases abroad of diammonium phosphate, when their volume decreased by -25.7% to X tons. Over the period under review, imports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2013 when imports increased by 21%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, diammonium phosphate imports reduced to $X in 2022. In general, imports recorded a mild shrinkage. The growth pace was the most rapid in 2021 with an increase of 74% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of diammonium phosphate imports in 2022 were Argentina (X tons), Brazil (X tons), Peru (X tons) and Colombia (X tons), together finishing at 78% of total import. Uruguay (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Ecuador (8.6%). Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +7.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest diammonium phosphate importing markets in MERCOSUR were Argentina ($X), Brazil ($X) and Peru ($X), with a combined 73% share of total imports.

Argentina, with a CAGR of +5.0%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, increasing by 27% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, diammonium phosphate import price increased by +106.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 62%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform