Nitrites; Nitrates Price in Malaysia - 2021
Contents:
- Nitrites; Nitrates Price in Malaysia (CIF) - 2021
- Nitrites; Nitrates Price in Malaysia (FOB) - 2021
- Nitrites; Nitrates Imports in Malaysia
- Nitrites; Nitrates Exports in Malaysia
Nitrites; Nitrates Price in Malaysia (CIF) - 2021
The average nitrites; nitrates import price stood at $494 per ton in December 2021, falling by -12.8% against the previous month. Overall, import price indicated measured growth from December 2020 to December 2021: its price increased at an average monthly rate of +2.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2021 figures, nitrites; nitrates import price decreased by -25.9% against October 2021 indices. The pace of growth was the most pronounced in March 2021 an increase of 47% month-to-month. Over the period under review, average import prices reached the maximum at $667 per ton in October 2021; however, from November 2021 to December 2021, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Latvia ($1,082 per ton), while the price for Norway ($353 per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Price in Malaysia (FOB) - 2021
The average nitrites; nitrates export price stood at $375 per ton in December 2021, which is down by -48.8% against the previous month. In general, the export price, however, posted measured growth. The pace of growth appeared the most rapid in August 2021 when the average export price increased by 38% m-o-m. The export price peaked at $733 per ton in November 2021, and then shrank rapidly in the following month.
There were significant differences in the average prices for the major overseas markets. In December 2021, the country with the highest price was Canada ($1,905 per ton), while the average price for exports to Hong Kong SAR ($203 per ton) was amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
Nitrites; Nitrates Imports in Malaysia
In 2022, purchases abroad of nitrites; nitrateses decreased by -0.6% to 46K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +10.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 43% against the previous year. As a result, imports reached the peak of 48K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, nitrites; nitrates imports shrank to $19M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +11.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year.
| Import of Nitrites; Nitrates in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.2 | 8.2 | 11.6 | 10.6 | 19.6% |
| Thailand | 1.4 | 1.7 | 2.0 | 2.6 | 22.9% |
| Norway | 0.4 | 0.9 | 0.8 | 1.1 | 40.1% |
| Switzerland | 0.8 | 0.9 | 0.9 | 1.0 | 7.7% |
| Jordan | 2.1 | 2.5 | 2.6 | 0.4 | -42.5% |
| South Korea | 0.9 | 0.8 | 1.2 | 0.3 | -30.7% |
| Others | 2.2 | 2.3 | 2.1 | 3.3 | 14.5% |
| Total | 13.9 | 17.3 | 21.3 | 19.3 | 11.6% |
Top Suppliers of Nitrites; Nitrates to Malaysia in 2022:
- China (28.7K tons)
- Norway (5.5K tons)
- Thailand (2.8K tons)
- Switzerland (1.4K tons)
- South Korea (0.7K tons)
- Jordan (0.4K tons)
Nitrites; Nitrates Exports in Malaysia
In 2022, after three years of growth, there was significant decline in overseas shipments of nitrites; nitrateses, when their volume decreased by -14.3% to 20K tons. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year.
In value terms, nitrites; nitrates exports shrank sharply to $7.1M in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 87% against the previous year. As a result, the exports reached the peak of $9.3M, and then reduced sharply in the following year.
| Export of Nitrites; Nitrates in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 2,601 | 3,096 | 4,408 | 2,328 | -3.6% |
| Canada | N/A | N/A | 1,671 | 1,907 | 14.1% |
| Philippines | 8.3 | 247 | 426 | 1,085 | 407.5% |
| Hong Kong SAR | 865 | 711 | 791 | 640 | -9.6% |
| Indonesia | 151 | 335 | 804 | 424 | 41.1% |
| Vietnam | 135 | 184 | 226 | 119 | -4.1% |
| Australia | 42.8 | 5.9 | 180 | 113 | 38.2% |
| Others | 336 | 376 | 781 | 502 | 14.3% |
| Total | 4,139 | 4,954 | 9,285 | 7,120 | 19.8% |
Top Export Markets for Nitrites; Nitrates from Malaysia in 2022:
- Thailand (11.7K tons)
- Hong Kong SAR (3.1K tons)
- Canada (1.4K tons)
- Indonesia (1.4K tons)
- Philippines (0.7K tons)
- Australia (0.5K tons)
- Vietnam (0.4K tons)
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1355
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