Peru: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Peru

The Peruvian potassium sulphate (SOP) market shrank slightly to $X in 2022, with a decrease of -3.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.5% against 2016 indices. Over the period under review, the market hit record highs at $X in 2021, and then declined slightly in the following year.

Potassium Sulphate (Sop) Exports

Exports from Peru

In 2022, approx. X tons of potassium sulphate (SOP) were exported from Peru; increasing by 374% against the previous year's figure. Over the period under review, exports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2014 when exports increased by 698%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, potassium sulphate (SOP) exports soared to $X in 2022. Overall, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 763%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons) and Bolivia (X tons) were the main destinations of potassium sulphate (SOP) exports from Peru.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +6.5%).

In value terms, Ecuador ($X) and Bolivia ($X) were the largest markets for potassium sulphate (SOP) exported from Peru worldwide.

Among the main countries of destination, Bolivia, with a CAGR of +4.7%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average potassium sulphate (SOP) export price amounted to $X per ton, shrinking by -29.3% against the previous year. Overall, the export price recorded a perceptible contraction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 98%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Ecuador amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+29.8%), while the prices for the other major destinations experienced a decline.

Potassium Sulphate (Sop) Imports

Imports into Peru

In 2022, potassium sulphate (sop) imports into Peru rose sharply to X tons, increasing by 5.1% against the previous year. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 30%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports contracted to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.0% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of potassium sulphate (SOP) to Peru, with a 43% share of total imports. Moreover, potassium sulphate (SOP) imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +137.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.8% per year) and Taiwan (Chinese) (+70.9% per year).

In value terms, China ($X) constituted the largest supplier of potassium sulphate (SOP) to Peru, comprising 47% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +129.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+63.5% per year) and Germany (+6.9% per year).

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, dropping by -10.3% against the previous year. Over the period under review, the import price saw a pronounced contraction. The growth pace was the most rapid in 2021 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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