Philippines: Fertilizer Market 2024

Fertilizer Market Size in the Philippines

The Philippine fertilizer market surged to $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fertilizer Production in the Philippines

In value terms, fertilizer production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Fertilizer Exports

Exports from the Philippines

In 2022, overseas shipments of fertilizers decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, fertilizer exports surged to $X in 2022. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for fertilizer exports from the Philippines, accounting for a X% share of total exports. Moreover, fertilizer exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Thailand (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for fertilizers exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average fertilizer export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Malaysia ($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 South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into the Philippines

Fertilizer imports into the Philippines amounted to X tons in 2022, approximately mirroring the year before. In general, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, fertilizer imports surged to $X in 2022. Overall, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of fertilizer to the Philippines, with a X% share of total imports. Moreover, fertilizer imports from China exceeded the figures recorded by the second-largest supplier, Canada (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Malaysia (X% per year).

In value terms, China ($X) constituted the largest supplier of fertilizers to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total imports. It was followed by Malaysia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average fertilizer import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue 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 Qatar ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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