Thailand: Mixed Fertilizer Market 2025

Mixed Fertilizer Market Size in Thailand

In 2022, the Thai mixed fertilizer market increased by 11% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Mixed fertilizer consumption peaked in 2022 and is expected to retain growth in the near future.

Mixed Fertilizer Production in Thailand

In value terms, mixed fertilizer production expanded sharply to $X in 2022 estimated in export price. In general, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 739% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Mixed Fertilizer Exports

Exports from Thailand

After two years of growth, overseas shipments of mixed fertilizers decreased by -34.8% to X tons in 2022. Overall, exports, however, saw a perceptible expansion. The growth pace was the most rapid in 2014 with an increase of 48%. The exports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, mixed fertilizer exports rose modestly to $X in 2022. In general, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 64% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Cambodia (X tons), Lao People's Democratic Republic (X tons) and Myanmar (X tons) were the main destinations of mixed fertilizer exports from Thailand, with a combined 49% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +10.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for mixed fertilizer exported from Thailand were Cambodia ($X), Lao People's Democratic Republic ($X) and Myanmar ($X), with a combined 48% share of total exports.

In terms of the main countries of destination, Lao People's Democratic Republic, with a CAGR of +15.7%, recorded the highest rates of growth with regard to the value of exports, 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 mixed fertilizer export price amounted to $X per ton, growing by 57% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer export price increased by +83.7% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Cambodia ($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 Lao People's Democratic Republic (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Thailand

After two years of growth, supplies from abroad of mixed fertilizers decreased by -33.5% to X tons in 2022. In general, imports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, mixed fertilizer imports reached $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Russia (X tons) and South Korea (X tons) were the main suppliers of mixed fertilizer imports to Thailand, with a combined 37% share of total imports. Norway, Saudi Arabia and Finland lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +2.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest mixed fertilizer suppliers to Thailand were China ($X), Russia ($X) and Norway ($X), together accounting for 37% of total imports. South Korea, Saudi Arabia and Finland lagged somewhat behind, together accounting for a further 11%.

Saudi Arabia, with a CAGR of +8.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mixed fertilizer import price stood at $X per ton in 2022, surging by 70% against the previous year. Over the period under review, the import price enjoyed a noticeable increase. As a result, import price attained the peak level 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 Finland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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