Brazil - Monoammonium Phosphate (MAP) - Market Analysis, Forecast, Size, Trends And Insights
Monoammonium Phosphate Price in Brazil Declines 9% to $684 per Ton
Brazil Monoammonium Phosphate Import Price in December 2022
In December 2022, the monoammonium phosphate price stood at $684 per ton (CIF, Brazil), which is down by -8.7% against the previous month. Over the period under review, the import price continues to indicate a slight reduction. The pace of growth appeared the most rapid in May 2022 an increase of 16% against the previous month. The import price peaked at $1,154 per ton in June 2022; however, from July 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($1,567 per ton), while the price for Russia ($626 per ton) was amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Brazil Monoammonium Phosphate Imports
In December 2022, imports of monoammonium phosphate (MAP) into Brazil soared to 234K tons, jumping by 24% against the previous month's figure. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in February 2022 with an increase of 111% month-to-month. Imports peaked at 629K tons in May 2022; however, from June 2022 to December 2022, imports failed to regain momentum.
In value terms, monoammonium phosphate imports rose notably to $160M (IndexBox estimates) in December 2022. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in February 2022 with an increase of 114% against the previous month. Over the period under review, imports hit record highs at 678K tons in May 2022; however, from June 2022 to December 2022, imports remained at a lower figure.
Brazil Monoammonium Phosphate Imports by Country
In December 2022, Russia (210K tons) constituted the largest monoammonium phosphate supplier to Brazil, accounting for a 90% share of total imports. Moreover, monoammonium phosphate imports from Russia exceeded the figures recorded by the second-largest supplier, China (13K tons), more than tenfold. The third position in this ranking was taken by Saudi Arabia (10K tons), with a 4.3% share.
From January 2022 to December 2022, the average monthly rate of growth in terms of volume from Russia stood at +12.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-5.8% per month) and Saudi Arabia (+12.5% per month).
In value terms, Russia ($131M) constituted the largest supplier of monoammonium phosphate to Brazil, comprising 82% of total imports. The second position in the ranking was held by China ($21M), with a 13% share of total imports. It was followed by Saudi Arabia, with a 4.2% share.
From January 2022 to December 2022, the average monthly growth rate of value from Russia amounted to +9.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (+0.8% per month) and Saudi Arabia (+11.7% per month).
Monoammonium Phosphate Market Overview
In Brazil, the price of monoammonium phosphate (MAP) has been on the rise in recent years, due to a variety of factors. One of the main drivers of this increase has been the growing demand for MAP from the agricultural sector. This is due to the fact that MAP is an essential ingredient in many fertilizers, and with Brazil's large agricultural industry, there has been a corresponding increase in demand for MAP.
Another factor that has contributed to the rising price of MAP in Brazil has been the appreciation of the Brazilian Real against the US dollar. This has made imports of MAP more expensive, and as a result, prices have risen.
Lastly, another driver of higher MAP prices has been tightness in the global supply of phosphate rock, one of the key raw materials needed to produce MAP. This has led to production cuts by some major producers, and as a result, prices have increased.
This report provides an in-depth analysis of the monoammonium phosphate market in Brazil. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
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The Largest Producers on The Market and Their Profiles
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