Uzbekistan: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Uzbekistan

The Uzbek potassium nitrate market declined significantly to $X in 2022, with a decrease of -77.9% against the previous year. Over the period under review, consumption faced a deep contraction. Potassium nitrate consumption peaked at $X in 2021, and then fell sharply in the following year.

Potassium Nitrate Production in Uzbekistan

In value terms, potassium nitrate production declined significantly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 371%. Potassium nitrate production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Potassium Nitrate Exports

Exports from Uzbekistan

In 2022, approx. X tons of potassium nitrates were exported from Uzbekistan; rising by 131,406% on the previous year's figure. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, potassium nitrate exports skyrocketed to $X in 2022. Overall, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for potassium nitrate exports from Uzbekistan, accounting for a 52% share of total exports. Moreover, potassium nitrate exports to Turkey exceeded the volume sent to the second major destination, Iran (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 20% share.

From 2021 to 2022, the average annual growth rate of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (0.0% per year) and Poland (0.0% per year).

It was followed by Iran, with a 23% share.

From 2021 to 2022, the average annual rate of growth in terms of value to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Iran (0.0% per year).

Export Prices by Country

In 2022, the average potassium nitrate export price amounted to $X per ton, shrinking by -45.4% against the previous year. In general, the export price recorded a sharp downturn. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined markedly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Nitrate Imports

Imports into Uzbekistan

In 2022, after five years of growth, there was significant decline in purchases abroad of potassium nitrates, when their volume decreased by -18.2% to X tons. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 343%. Imports peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2018 when imports increased by 393% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of potassium nitrate to Uzbekistan, with a 40% share of total imports. Moreover, potassium nitrate imports from Russia exceeded the figures recorded by the second-largest supplier, Belarus (X tons), threefold. The third position in this ranking was taken by Israel (X tons), with a 13% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from Russia totaled +106.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (0.0% per year) and Israel (0.0% per year).

In value terms, Russia ($X) constituted the largest supplier of potassium nitrates to Uzbekistan, comprising 40% of total imports. The second position in the ranking was held by Israel ($X), with a 16% share of total imports. It was followed by Belarus, with a 12% share.

From 2017 to 2022, the average annual rate of growth in terms of value from Russia amounted to +113.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (0.0% per year) and Belarus (0.0% per year).

Import Prices by Country

In 2022, the average potassium nitrate import price amounted to $X per ton, increasing by 55% against the previous year. Overall, import price indicated a slight increase from 2017 to 2022: its price increased at an average annual rate of +1.6% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :