Philippines: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in the Philippines

In 2022, the Philippine nitrogenous fertilizer market increased by X% to $X, rising for the sixth year in a row after two years of decline. Overall, the total consumption indicated a strong 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 attained the peak level and is likely to continue growth in the immediate term.

Nitrogenous Fertilizer Production in the Philippines

In value terms, nitrogenous fertilizer production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of X%. Nitrogenous fertilizer production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports from the Philippines

In 2022, overseas shipments of nitrogenous fertilizers (mineral or chemical) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer exports fell notably to $X in 2022. Over the period under review, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for nitrogenous fertilizer exports from the Philippines, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR totaled X%.

In value terms, Hong Kong SAR ($X) also remains the key foreign market for nitrogenous fertilizers (mineral or chemical) exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to X%.

Export Prices by Country

The average nitrogenous fertilizer export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price saw significant growth. The growth pace was the most rapid in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to X.2% per year.

Nitrogenous Fertilizer Imports

Imports into the Philippines

In 2022, overseas purchases of nitrogenous fertilizers (mineral or chemical) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, total imports indicated a pronounced 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 was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports skyrocketed to $X in 2022. Overall, imports, however, saw a resilient increase. As a result, imports reached 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 nitrogenous fertilizer to the Philippines, accounting for a X% share of total imports. Moreover, nitrogenous fertilizer imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. Malaysia (X tons) ranked third in terms of total imports with a 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: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, China ($X), Indonesia ($X) and Malaysia ($X) constituted the largest nitrogenous fertilizer suppliers to the Philippines, together comprising X% of total imports. Qatar, Japan, Norway and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Qatar, with a CAGR of X%, saw the highest growth rate of 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, jumping by X% against the previous year. In general, the import price continues to indicate tangible growth. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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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