Oman: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in Oman

The Omani mixed fertilizer market declined to $X in 2022, waning by -10.8% against the previous year. Over the period under review, consumption saw a pronounced reduction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Mixed Fertilizer Production in Oman

In value terms, mixed fertilizer production dropped modestly to $X in 2022 estimated in export price. In general, production, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2016 with an increase of 13% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Mixed Fertilizer Exports

Exports from Oman

In 2022, exports of mixed fertilizers from Oman skyrocketed to X tons, with an increase of 2,425% against the previous year's figure. Over the period under review, exports showed a significant expansion. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, mixed fertilizer exports soared to $X in 2022. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Myanmar (X tons) was the main destination for mixed fertilizer exports from Oman, with a 91% share of total exports. Moreover, mixed fertilizer exports to Myanmar exceeded the volume sent to the second major destination, Zambia (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +222.8%.

In value terms, Myanmar ($X) emerged as the key foreign market for mixed fertilizers exports from Oman, comprising 87% of total exports. The second position in the ranking was taken by Zambia ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Myanmar amounted to +220.2%.

Export Prices by Country

In 2022, the average mixed fertilizer export price amounted to $X per ton, waning by -55% against the previous year. Overall, the export price recorded a deep slump. The growth pace was the most rapid in 2021 an increase of 201% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Myanmar totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+10.3%), while the prices for the other major destinations experienced a decline.

Mixed Fertilizer Imports

Imports into Oman

In 2022, overseas purchases of mixed fertilizers were finally on the rise to reach X tons after four years of decline. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 43% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, mixed fertilizer imports skyrocketed to $X in 2022. Over the period under review, imports posted a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 48% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest mixed fertilizer supplier to Oman, accounting for a 28% share of total imports. Moreover, mixed fertilizer imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was held by Norway (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+3.3% per year) and Norway (+27.2% per year).

In value terms, the United Arab Emirates ($X), Belgium ($X) and Italy ($X) were the largest mixed fertilizer suppliers to Oman, together accounting for 51% of total imports. Spain, the Netherlands, Norway, Jordan, Germany, Turkey, India, China, France and Saudi Arabia lagged somewhat behind, together accounting for a further 41%.

Among the main suppliers, Turkey, with a CAGR of +32.2%, saw 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 mixed fertilizer import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price saw a slight downturn. The most prominent rate of growth was recorded in 2019 an increase of 14%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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