MERCOSUR: Nitrites Market 2024

Nitrites Exports

Exports in MERCOSUR

In 2021, shipments abroad of nitrites decreased by -5.3% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 215%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, nitrites exports contracted sharply to $X in 2021. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 211% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then shrank remarkably in the following year.

Exports by Country

In 2021, Brazil (X tons) was the key exporter of nitrites, committing 64% of total exports. Chile (X tons) took the second position in the ranking, distantly followed by Argentina (X tons) and Colombia (X tons). All these countries together took near 35% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to nitrites exports from Brazil stood at +20.1%. At the same time, Chile (+60.4%), Colombia (+31.8%) and Argentina (+20.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +60.4% from 2012-2021. While the share of Chile (+21 p.p.) and Colombia (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-9.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest nitrites supplying countries in MERCOSUR were Brazil ($X), Chile ($X) and Argentina ($X), together accounting for 87% of total exports.

Chile, with a CAGR of +66.4%, 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 2021, the export price in MERCOSUR amounted to $X per ton, which is down by -19.2% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2015 an increase of 19%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.7%), while the other leaders experienced a decline in the export price figures.

Nitrites Imports

Imports in MERCOSUR

Nitrites imports dropped modestly to X tons in 2021, with a decrease of -3.1% against 2020 figures. Over the period under review, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of 29%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, nitrites imports rose rapidly to $X in 2021. In general, imports showed a pronounced slump. The growth pace was the most rapid in 2018 when imports increased by 55% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Brazil dominates imports structure, accounting for X tons, which was near 79% of total imports in 2021. It was distantly followed by Argentina (X tons) and Chile (X tons), together making up a 14% share of total imports. Colombia (X tons) took a little share of total imports.

Imports into Brazil decreased at an average annual rate of -2.8% from 2012 to 2021. At the same time, Chile (+1.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +1.4% from 2012-2021. By contrast, Argentina (-5.3%) and Colombia (-14.6%) illustrated a downward trend over the same period. Brazil (+7.2 p.p.) and Chile (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Colombia saw its share reduced by -5.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported nitrites in MERCOSUR, comprising 76% of total imports. The second position in the ranking was held by Argentina ($X), with an 8.8% share of total imports. It was followed by Chile, with a 5.9% share.

In Brazil, nitrites imports declined by an average annual rate of -2.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (-3.5% per year) and Chile (+2.0% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, picking up by 11% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 21%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Chile ($X per ton) and Argentina ($X per ton), while Colombia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform