Price for Fertilizers; Mineral or Chemical, Nitrogenous in South Korea - 2022
Contents:
- Price for Fertilizers; Mineral or Chemical, Nitrogenous in South Korea (CIF) - 2022
- Price for Fertilizers; Mineral or Chemical, Nitrogenous in South Korea (FOB) - 2022
- Imports of Fertilizers; Mineral or Chemical, Nitrogenous in South Korea
- Exports of Fertilizers; Mineral or Chemical, Nitrogenous in South Korea
Price for Fertilizers; Mineral or Chemical, Nitrogenous in South Korea (CIF) - 2022
In December 2022, the average import price for fertilizers; mineral or chemical, nitrogenoi amounted to $572 per ton, shrinking by -13.7% against the previous month. In general, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in April 2022 an increase of 30% month-to-month. The import price peaked at $952 per ton in January 2022; however, from February 2022 to December 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($859 per ton), while the price for Qatar ($553 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+23.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fertilizers; Mineral or Chemical, Nitrogenous in South Korea (FOB) - 2022
In December 2022, the average export price for fertilizers; mineral or chemical, nitrogenoi amounted to $835 per ton, growing by 91% against the previous month. Over the period under review, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in September 2022 an increase of 106% m-o-m. The export price peaked at $910 per ton in May 2022; however, from June 2022 to December 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major external markets. In December 2022, the highest price was recorded for prices to Vietnam ($962 per ton) and Thailand ($923 per ton), while the average price for exports to Japan ($717 per ton) and Malaysia ($806 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fertilizers; Mineral or Chemical, Nitrogenous in South Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of fertilizers; mineral or chemical, nitrogenoi, when their volume decreased by -9% to 903K tons. The total import volume increased at an average annual rate of +1.7% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 12% against the previous year. As a result, imports attained the peak of 993K tons, and then fell in the following year.
In value terms, fertilizers; mineral or chemical, nitrogenous imports fell remarkably to $342M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +8.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 73%. As a result, imports attained the peak of $433M, and then reduced sharply in the following year.
Import of Fertilizers; Mineral or Chemical, Nitrogenous in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 163 | 155 | 274 | 216 | 9.8% |
Vietnam | 0.2 | N/A | 52.4 | 41.2 | 490.6% |
Qatar | 53.7 | 20.9 | 21.2 | 24.4 | -23.1% |
Indonesia | 1.5 | 29.6 | 21.6 | 17.0 | 124.6% |
Oman | 1.6 | 10.0 | 13.6 | 10.7 | 88.4% |
Malaysia | 21.0 | 0.2 | 13.4 | 10.6 | -20.4% |
Others | 26.5 | 34.9 | 36.7 | 22.2 | -5.7% |
Total | 268 | 251 | 433 | 342 | 8.5% |
Top Suppliers of Fertilizers; Mineral or Chemical, Nitrogenous to South Korea in 2022:
- China (598.1K tons)
- Qatar (95.7K tons)
- Vietnam (54.8K tons)
- Indonesia (44.7K tons)
- Oman (34.5K tons)
- Malaysia (32.9K tons)
Exports of Fertilizers; Mineral or Chemical, Nitrogenous in South Korea
Fertilizers; mineral or chemical, nitrogenous exports from South Korea contracted to 654K tons in 2022, shrinking by -13.4% on 2021. In general, exports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. As a result, the exports reached the peak of 755K tons, and then contracted in the following year.
In value terms, fertilizers; mineral or chemical, nitrogenous exports reduced remarkably to $141M in 2022. Overall, total exports indicated a noticeable expansion from 2019 to 2022: its value increased at an average annual rate of +3.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 86% against the previous year. As a result, the exports attained the peak of $183M, and then reduced sharply in the following year.
Export of Fertilizers; Mineral or Chemical, Nitrogenous in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 17.0 | 18.5 | 24.4 | 21.1 | 7.5% |
United States | 5.7 | 5.6 | 21.8 | 18.8 | 48.9% |
New Zealand | 10.7 | 13.3 | 20.0 | 17.2 | 17.1% |
Mexico | 20.2 | 11.5 | 14.3 | 13.1 | -13.4% |
Thailand | 6.0 | 7.0 | 14.7 | 12.7 | 28.4% |
Turkey | 26.5 | 3.2 | 14.2 | 12.5 | -22.2% |
Vietnam | 4.5 | 6.7 | 9.3 | 8.0 | 21.1% |
India | 8.3 | 7.7 | 7.3 | 6.6 | -7.4% |
Indonesia | 9.6 | 7.4 | 4.4 | 6.1 | -14.0% |
Brazil | N/A | N/A | 13.4 | N/A | 0% |
Others | 19.7 | 17.8 | 40.0 | 25.2 | 8.6% |
Total | 128 | 98.8 | 183 | 141 | 3.3% |
Top Export Markets for Fertilizers; Mineral or Chemical, Nitrogenous from South Korea in 2022:
- Mexico (110.7K tons)
- Turkey (104.1K tons)
- United States (92.8K tons)
- New Zealand (67.2K tons)
- Thailand (65.2K tons)
- India (48.8K tons)
- Japan (43.8K tons)
- Vietnam (33.3K tons)
- Indonesia (20.7K tons)
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