U.S. - NPK Fertilizers - Market Analysis, Forecast, Size, Trends And Insights
Import of NPK Fertilizer in the U.S. Rises by 61% to $14M in Feb 2023
U.S. NPK Fertilizer Imports
In February 2023, the amount of mixed nitrogen, phosphorus and potassium (NPK) fertilizers imported into the United States surged to 16K tons, jumping by 96% compared with the previous month. Over the period under review, imports, however, showed a noticeable setback. The most prominent rate of growth was recorded in November 2022 when imports increased by 130% against the previous month. Imports peaked at 29K tons in May 2022; however, from June 2022 to February 2023, imports stood at a somewhat lower figure.
In value terms, NPK fertilizer imports surged to $14M (IndexBox estimates) in February 2023. In general, imports, however, recorded a noticeable decline. The pace of growth was the most pronounced in November 2022 with an increase of 91% against the previous month. Over the period under review, imports attained the maximum at 22K tons in May 2022; however, from June 2022 to February 2023, imports remained at a lower figure.
Imports by Country
In February 2023, Norway (9.6K tons) constituted the largest NPK fertilizer supplier to the United States, accounting for a 60% share of total imports. Moreover, NPK fertilizer imports from Norway exceeded the figures recorded by the second-largest supplier, Finland (3.1K tons), threefold. Canada (2.5K tons) ranked third in terms of total imports with a 16% share.
From February 2022 to February 2023, the average monthly rate of growth in terms of volume from Norway totaled -1.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Finland (-6.4% per month) and Canada (-2.3% per month).
In value terms, Norway ($7M), Canada ($3.7M) and Finland ($2.2M) appeared to be the largest NPK fertilizer suppliers to the United States, with a combined 91% share of total imports. These countries were followed by Mexico and Spain, which together accounted for a further 5.2%.
Mexico, with a CAGR of +9.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices by Country
In February 2023, the npk fertilizer price amounted to $883 per ton (CIF, US), declining by -17.8% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in June 2022 an increase of 27% month-to-month. The import price peaked at $1,088 per ton in July 2022; however, from August 2022 to February 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Spain ($3,569 per ton), while the price for Finland ($696 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Spain (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the npk fertilizer market in the U.S.. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
Join our live webinar to get insights into the global anhydrous ammonia market.
Tuesday, June 15th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into the global biodiesel market.
Thursday, June 10th, 2021 @ 04:00 pm ET
Join our live webinar to get insights into the global fertilizer market.
Thursday, May 13th, 2021 @ 04:00 pm ET