Price for Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate in the Philippines - 2023
Contents:
- Price for Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate in the Philippines (CIF) - 2022
- Imports of Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate in the Philippines
Price for Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate in the Philippines (CIF) - 2022
The average import price for fertilizers, mineral or chemical stood at $559 per ton in 2022, which is down by -3.3% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fertilizers, mineral or chemical increased by +2.2% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 73% against the previous year. The import price peaked at $577 per ton in 2021, and then reduced in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($1,370 per ton), while the price for China ($131 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate in the Philippines
In 2022, purchases abroad of fertilizers, mineral or chemical decreased by -22.9% to 28 tons, falling for the second consecutive year after two years of growth. In general, imports recorded a sharp setback. The most prominent rate of growth was recorded in 2020 when imports increased by 3.8% against the previous year. As a result, imports reached the peak of 111 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of fertilizers, mineral or chemical reduced markedly to $16K in 2022. Over the period under review, imports saw a sharp curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 0.9%. As a result, imports attained the peak of $61K. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 30.1 | 39.8 | 17.8 | 14.2 | -22.2% |
| South Korea | 11.4 | 5.3 | 0.6 | 0.4 | -67.3% |
| Taiwan (Chinese) | 1.5 | 1.9 | 0.5 | 0.2 | -48.9% |
| China | 2.6 | 3.6 | 0.6 | 0.2 | -57.5% |
| Thailand | 4.7 | 2.9 | 0.6 | 0.2 | -65.1% |
| Israel | 1.5 | 1.0 | 0.2 | 0.1 | -59.5% |
| United States | 1.1 | 0.6 | 0.1 | N/A | -69.8% |
| Others | 7.2 | 5.5 | 0.4 | 0.2 | -69.7% |
| Total | 60.1 | 60.7 | 20.8 | 15.5 | -36.3% |
Top Suppliers of Fertilizers, Mineral or Chemical; Nitrogenous, Other than Ammonium Sulphate to the Philippines in 2022:
- Malaysia (25.3 tons)
- China (1.5 tons)
- South Korea (0.3 tons)
- Taiwan (Chinese) (0.2 tons)
- United States (0.2 tons)
- Thailand (0.2 tons)
- Israel (0.1 tons)
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