Mexico: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Mexico

The Mexican nitrogenous fertilizer market skyrocketed to $X in 2022, increasing by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Nitrogenous fertilizer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Nitrogenous Fertilizer Production in Mexico

In value terms, nitrogenous fertilizer production rose modestly to $X in 2022 estimated in export price. Overall, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Nitrogenous fertilizer production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports from Mexico

In 2022, overseas shipments of nitrogenous fertilizers (mineral or chemical) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports faced a significant contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer exports declined remarkably to $X in 2022. In general, exports showed a dramatic decline. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for nitrogenous fertilizer exports from Mexico, with a X% share of total exports. Moreover, nitrogenous fertilizer exports to the United States exceeded the volume sent to the second major destination, Cuba (X tons), twofold. The third position in this ranking was held by Ecuador (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Ecuador (X% per year).

In value terms, the United States ($X) remains the key foreign market for nitrogenous fertilizers (mineral or chemical) exports from Mexico, comprising X% of total exports. The second position in the ranking was held by Cuba ($X), with a X% share of total exports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Ecuador (X% per year).

Export Prices by Country

The average nitrogenous fertilizer export price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price, however, showed a mild expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank notably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Ecuador ($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 Honduras (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogenous Fertilizer Imports

Imports into Mexico

In 2022, the amount of nitrogenous fertilizers (mineral or chemical) imported into Mexico soared to X tons, jumping by X% on 2021 figures. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer imports soared to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Oman (X tons), Russia (X tons) and the United States (X tons) were the main suppliers of nitrogenous fertilizer imports to Mexico, with a combined X% share of total imports. Qatar, China, Nigeria, Algeria and Ukraine lagged somewhat behind, together accounting for a further X%.

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

In value terms, Russia ($X), the United States ($X) and Oman ($X) appeared to be the largest nitrogenous fertilizer suppliers to Mexico, together accounting for X% of total imports. Nigeria, China, Qatar, Algeria and Ukraine lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 nitrogenous fertilizer import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain 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 Nigeria ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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