Slovakia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Slovakia

The Slovak NPK fertilizer market totaled $X in 2022, surging by 4.3% against the previous year. Overall, consumption, however, posted a prominent expansion. Consumption peaked in 2022 and is likely to continue growth in years to come.

Npk Fertilizer Production in Slovakia

In value terms, NPK fertilizer production totaled less than $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with a decrease of 99.9% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Npk Fertilizer Exports

Exports from Slovakia

NPK fertilizer exports from Slovakia soared to X tons in 2022, rising by 209% compared with the previous year. Over the period under review, exports, however, continue to indicate a abrupt setback. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, NPK fertilizer exports soared to $X in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons), Lithuania (X tons) and Hungary (X tons) were the main destinations of NPK fertilizer exports from Slovakia, with a combined 72% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +117.9%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), the Czech Republic ($X) and Russia ($X) constituted the largest markets for NPK fertilizer exported from Slovakia worldwide, with a combined 62% share of total exports.

Lithuania, with a CAGR of +98.5%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average NPK fertilizer export price amounted to $X per ton, declining by -12.2% against the previous year. Over the period under review, the export price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 36%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Romania ($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 Croatia (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Slovakia

In 2022, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -5.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +9.9% 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 +27.6% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 64% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, NPK fertilizer imports amounted to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 86% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Austria (X tons), Russia (X tons) and Hungary (X tons) were the main suppliers of NPK fertilizer imports to Slovakia, with a combined 47% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +43.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Russia ($X) and the Czech Republic ($X) were the largest NPK fertilizer suppliers to Slovakia, together comprising 41% of total imports.

In terms of the main suppliers, Russia, with a CAGR of +44.7%, recorded 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

The average NPK fertilizer import price stood at $X per ton in 2022, with an increase of 20% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer import price increased by +107.2% against 2017 indices. The growth pace was the most rapid in 2021 when the average import price increased by 51% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 the Czech Republic ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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