India - Anhydrous Ammonia - Market Analysis, Forecast, Size, Trends And Insights
Sharp Decline in India's Ammonia Price: Now at $328 per Ton
India Anhydrous Ammonia Import Price in June 2023
In June 2023, the anhydrous ammonia price amounted to $328 per ton (CIF, India), declining by -21.2% against the previous month. Overall, the import price showed a abrupt decrease. The pace of growth was the most pronounced in November 2022 when the average import price increased by 1.7% month-to-month. The import price peaked at $1,065 per ton in June 2022; however, from July 2022 to June 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In June 2023, the countries with the highest prices were Egypt ($357 per ton) and Saudi Arabia ($324 per ton), while the price for Oman ($277 per ton) and Bahrain ($288 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-9.4%), while the prices for the other major suppliers experienced a decline.
|COUNTRY||Import Price of Anhydrous Ammonia in India (USD per ton)|
|Jun 2022||Jul 2022||Aug 2022||Sep 2022||Oct 2022||Nov 2022||Dec 2022||Jan 2023||Feb 2023||Mar 2023||Apr 2023||May 2023||Jun 2023|
India Anhydrous Ammonia Imports
In June 2023, overseas purchases of anhydrous ammonia increased by 27% to 307K tons, rising for the second month in a row after two months of decline. Over the period under review, total imports indicated a temperate increase from June 2022 to June 2023: its volume increased at an average monthly rate of +3.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, imports increased by +153.0% against April 2023 indices. The most prominent rate of growth was recorded in May 2023 when imports increased by 99% m-o-m. Over the period under review, imports reached the maximum in June 2023.
In value terms, ammonia imports reached $101M (IndexBox estimates) in June 2023. Overall, imports, however, recorded a deep slump. The pace of growth was the most pronounced in May 2023 when imports increased by 77% m-o-m.
India Anhydrous Ammonia Imports by Country
In June 2023, Saudi Arabia (160K tons) constituted the largest ammonia supplier to India, accounting for a 52% share of total imports. Moreover, ammonia imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Bahrain (63K tons), threefold. Egypt (25K tons) ranked third in terms of total imports with an 8.2% share.
From June 2022 to June 2023, the average monthly rate of growth in terms of volume from Saudi Arabia amounted to +4.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: Bahrain (+6.0% per month) and Egypt (+0.0% per month).
In value terms, Saudi Arabia ($52M) constituted the largest supplier of ammonia to India, comprising 51% of total imports. The second position in the ranking was taken by Bahrain ($18M), with an 18% share of total imports. It was followed by Egypt, with a 9% share.
From June 2022 to June 2023, the average monthly growth rate of value from Saudi Arabia totaled -5.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: Bahrain (-5.0% per month) and Egypt (-9.8% per month).
This report provides an in-depth analysis of the ammonia market in India. 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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