Russian Federation: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in the Russian Federation

The Russian potassium nitrate market rose rapidly to $X in 2022, with an increase of 12% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Potassium Nitrate Production in the Russian Federation

In value terms, potassium nitrate production surged to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 86%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Potassium Nitrate Exports

Exports from the Russian Federation

Potassium nitrate exports from Russia rose rapidly to X tons in 2022, with an increase of 14% against the previous year's figure. In general, exports saw a notable expansion. The most prominent rate of growth was recorded in 2015 with an increase of 39% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium nitrate exports expanded markedly to $X in 2022. Overall, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +14.7% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 43%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons) was the main destination for potassium nitrate exports from Russia, with a 42% share of total exports. Moreover, potassium nitrate exports to Guatemala exceeded the volume sent to the second major destination, Belarus (X tons), twofold. The third position in this ranking was taken by Azerbaijan (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala stood at +138.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+15.1% per year) and Azerbaijan (+137.2% per year).

In value terms, the largest markets for potassium nitrate exported from Russia were Guatemala ($X), Belarus ($X) and Azerbaijan ($X), with a combined 73% share of total exports.

Guatemala, with a CAGR of +128.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potassium nitrate export price stood at $X per ton in 2022, falling by -2.9% against the previous year. In general, the export price showed a slight downturn. The growth pace was the most rapid in 2013 an increase of 12%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Poland ($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 Peru (+1.1%), while the prices for the other major destinations experienced a decline.

Potassium Nitrate Imports

Imports into the Russian Federation

Potassium nitrate imports into Russia declined rapidly to X tons in 2022, which is down by -15.9% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 85%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, potassium nitrate imports contracted to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 88% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of potassium nitrate to Russia, accounting for a 74% share of total imports. Moreover, potassium nitrate imports from Chile exceeded the figures recorded by the second-largest supplier, Israel (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Chile totaled +12.4%.

In value terms, Chile ($X) constituted the largest supplier of potassium nitrates to Russia, comprising 74% of total imports. The second position in the ranking was held by Israel ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile stood at +10.4%.

Import Prices by Country

In 2022, the average potassium nitrate import price amounted to $X per ton, increasing by 2.5% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when the average import price increased by 2.5% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Israel totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :