MERCOSUR: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in MERCOSUR

For the seventh consecutive year, the MERCOSUR monoammonium phosphate market recorded growth in sales value, which increased by 6.7% to $X in 2022. In general, consumption, however, enjoyed prominent growth. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Monoammonium Phosphate Production in MERCOSUR

In value terms, monoammonium phosphate production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 40% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports in MERCOSUR

In 2022, monoammonium phosphate exports in MERCOSUR amounted to X tons, increasing by 4.5% compared with the year before. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 -28.4% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 33% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, monoammonium phosphate exports soared to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.3% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Peru (X tons) was the key exporter of monoammonium phosphate (MAP), comprising 54% of total exports. Brazil (X tons) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Uruguay (13%) and Paraguay (6.4%).

Exports from Peru increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, Paraguay (+85.0%), Uruguay (+26.4%) and Brazil (+10.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +85.0% from 2012-2022. From 2012 to 2022, the share of Uruguay, Brazil and Paraguay increased by +11, +9.8 and +6.4 percentage points, respectively.

In value terms, the largest monoammonium phosphate supplying countries in MERCOSUR were Peru ($X), Brazil ($X) and Uruguay ($X), with a combined 89% share of total exports. Paraguay lagged somewhat behind, comprising a further 7.8%.

Paraguay, with a CAGR of +175.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, increasing by 15% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 30% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+49.1%), while the other leaders experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports in MERCOSUR

In 2022, after three years of growth, there was significant decline in purchases abroad of monoammonium phosphate (MAP), when their volume decreased by -25.4% to X tons. In general, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped sharply in the following year.

In value terms, monoammonium phosphate imports soared to $X in 2022. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 90%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Brazil represented the key importing country with an import of around X tons, which recorded 74% of total imports. It was distantly followed by Argentina (X tons), mixing up a 16% share of total imports. Colombia (X tons), Paraguay (X tons), Uruguay (X tons) and Chile (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to monoammonium phosphate imports into Brazil stood at +8.7%. At the same time, Paraguay (+35.0%), Argentina (+4.7%), Colombia (+4.2%) and Chile (+2.9%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +35.0% from 2012-2022. By contrast, Uruguay (-1.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and Paraguay increased by +8.6 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in MERCOSUR, comprising 76% of total imports. The second position in the ranking was taken by Argentina ($X), with a 16% share of total imports. It was followed by Paraguay, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +14.6%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+9.4% per year) and Paraguay (+39.3% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, surging by 58% against the previous year. Over the period under review, the import price posted a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of 85%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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 (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform