Nitrites; Nitrates Price in the UK - 2023
Contents:
- Nitrites; Nitrates Price in the UK (FOB) - 2022
- Nitrites; Nitrates Price in the UK (CIF) - 2023
- Nitrites; Nitrates Exports in the UK
- Nitrites; Nitrates Imports in the UK
Nitrites; Nitrates Price in the UK (FOB) - 2022
In 2022, the average nitrites; nitrates export price amounted to $4,964 per ton, jumping by 45% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($11,256 per ton), while the average price for exports to South Korea ($1,170 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.
Nitrites; Nitrates Price in the UK (CIF) - 2023
The average nitrites; nitrates import price stood at $450 per ton in August 2023, with a decrease of -66.7% against the previous month. Over the period under review, the import price continues to indicate a perceptible downturn. The growth pace was the most rapid in May 2023 when the average import price increased by 160% m-o-m. As a result, import price attained the peak level of $1,848 per ton. From June 2023 to August 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Germany ($1,337 per ton), while the price for Norway ($131 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Exports in the UK
Nitrites; nitrates exports from the UK fell to 6.4K tons in 2022, waning by -12% on the previous year's figure. The total export volume increased at an average annual rate of +1.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 48% against the previous year. As a result, the exports reached the peak of 7.2K tons, and then shrank in the following year.
In value terms, nitrites; nitrates exports soared to $32M in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +9.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Nitrites; Nitrates in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 11.8 | 7.7 | 12.4 | 13.2 | 3.8% |
| South Africa | 2.8 | 4.5 | 2.2 | 7.0 | 35.7% |
| Germany | 1.5 | 1.3 | 2.1 | 1.6 | 2.2% |
| Denmark | 1.1 | 0.8 | 0.4 | 1.1 | 0.0% |
| France | 0.1 | 0.1 | 0.5 | 0.7 | 91.3% |
| China | 0.2 | 0.3 | 0.6 | 0.7 | 51.8% |
| South Korea | 0.2 | 0.1 | 0.2 | 0.5 | 35.7% |
| Spain | 0.3 | 0.3 | 0.6 | 0.5 | 18.6% |
| Taiwan (Chinese) | 0.6 | 0.5 | 0.6 | 0.4 | -12.6% |
| Ireland | 1.0 | 0.6 | 0.7 | 0.4 | -26.3% |
| Thailand | N/A | N/A | 0.1 | 0.2 | 100.0% |
| Others | 4.1 | 3.3 | 4.4 | 5.3 | 8.9% |
| Total | 23.8 | 19.5 | 24.7 | 31.6 | 9.9% |
Top Export Markets for Nitrites; Nitrates from the UK in 2022:
- Netherlands (2539.4 tons)
- Germany (703.6 tons)
- South Africa (625.3 tons)
- South Korea (447.7 tons)
- Taiwan (Chinese) (302.6 tons)
- France (280.6 tons)
- Ireland (251.3 tons)
- China (235.8 tons)
- Denmark (204.0 tons)
- Spain (129.4 tons)
- Thailand (105.5 tons)
Nitrites; Nitrates Imports in the UK
After two years of decline, supplies from abroad of nitrites; nitrateses increased by 2.5% to 27K tons in 2022. Over the period under review, imports, however, saw a abrupt downturn.
In value terms, nitrites; nitrates imports soared to $27M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +11.3% 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 +83.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Nitrites; Nitrates in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | 0.3 | 0.4 | 0.5 | 5.3 | 160.4% |
| Germany | 3.2 | 1.8 | 2.1 | 5.0 | 16.0% |
| Norway | 1.5 | 1.3 | 1.9 | 2.7 | 21.6% |
| Netherlands | 4.6 | 3.0 | 3.1 | 1.9 | -25.5% |
| China | 1.1 | 0.5 | 0.9 | 1.8 | 17.8% |
| Jordan | 1.6 | 1.6 | 1.7 | 1.7 | 2.0% |
| Belgium | 1.2 | 0.9 | 1.1 | 1.1 | -2.9% |
| Denmark | N/A | N/A | 0.4 | 1.0 | 150.0% |
| Israel | 1.1 | 0.4 | 0.3 | N/A | -47.8% |
| Others | 5.2 | 4.8 | 5.1 | 6.6 | 8.3% |
| Total | 19.7 | 14.9 | 17.0 | 27.2 | 11.4% |
Top Suppliers of Nitrites; Nitrates to the UK in 2022:
- Norway (11.9K tons)
- Germany (4.3K tons)
- Netherlands (3.3K tons)
- Chile (1.9K tons)
- Jordan (1.3K tons)
- Belgium (1.0K tons)
- Denmark (0.7K tons)
- China (0.4K tons)
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