Price for Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines - 2023
Contents:
- Price for Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines (CIF) - 2023
- Price for Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines (FOB) - 2022
- Imports of Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines
- Exports of Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines
Price for Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines (CIF) - 2023
In June 2023, the average import price for fertilizers; mineral or chemical, nitrogenoi amounted to $319 per ton, dropping by -2.4% against the previous month. In general, the import price showed a deep contraction. The growth pace was the most rapid in October 2022 when the average import price increased by 19% m-o-m. The import price peaked at $623 per ton in June 2022; however, from July 2022 to June 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Indonesia ($377 per ton), while the price for Japan ($166 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (0.0%), while the prices for the other major suppliers experienced a decline.
Price for Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines (FOB) - 2022
The average export price for fertilizers; mineral or chemical, nitrogenoi stood at $944 per ton in 2022, with a decrease of -4.5% against the previous year. Over the period under review, the export price, however, saw a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 52% against the previous year. Over the period under review, the average export prices attained the maximum at $988 per ton in 2021, and then reduced modestly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($3,619 per ton), while the average price for exports to Cambodia ($24 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 Indonesia (+16.4%), while the prices for the other major destinations experienced a decline.
Imports of Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines
In 2022, the amount of fertilizers; mineral or chemical, nitrogenoi imported into the Philippines skyrocketed to 1.8M tons, growing by 22% against the year before. The total import volume increased at an average annual rate of +5.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, fertilizers; mineral or chemical, nitrogenous imports soared to $755M in 2022. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 130 | 136 | 132 | 199 | 15.2% |
| Malaysia | 82.5 | 90.4 | 125 | 189 | 31.8% |
| China | 71.7 | 84.0 | 119 | 179 | 35.7% |
| Qatar | 47.7 | 54.7 | 45.5 | 73.9 | 15.7% |
| Japan | 18.7 | 13.3 | 26.8 | 43.7 | 32.7% |
| Taiwan (Chinese) | 2.5 | 3.9 | 12.4 | 18.8 | 95.9% |
| Saudi Arabia | 8.3 | 6.5 | 8.9 | 13.4 | 17.3% |
| Others | 16.3 | 16.7 | 25.1 | 37.2 | 31.7% |
| Total | 378 | 406 | 495 | 755 | 25.9% |
Top Suppliers of Fertilizers; Mineral or Chemical, Nitrogenous to the Philippines in 2022:
- China (751.8K tons)
- Indonesia (303.7K tons)
- Malaysia (226.8K tons)
- Japan (190.6K tons)
- Qatar (107.3K tons)
- Taiwan (Chinese) (88.4K tons)
- Saudi Arabia (46.7K tons)
Exports of Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines
In 2022, after three years of growth, there was significant decline in overseas shipments of fertilizers; mineral or chemical, nitrogenoi, when their volume decreased by -42.7% to 830 tons. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 656%. As a result, the exports reached the peak of 1.4K tons, and then plummeted in the following year.
In value terms, fertilizers; mineral or chemical, nitrogenous exports reduced notably to $783K in 2022. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 960%. As a result, the exports attained the peak of $1.4M, and then reduced sharply in the following year.
| Export of Fertilizers; Mineral or Chemical, Nitrogenous in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 116 | 127 | 1,348 | 750 | 86.3% |
| Vietnam | 7.3 | 6.8 | 60.3 | 28.2 | 56.9% |
| Others | 1.1 | 1.0 | 23.5 | 4.9 | 64.5% |
| Total | 124 | 135 | 1,432 | 783 | 84.8% |
Top Export Markets for Fertilizers; Mineral or Chemical, Nitrogenous from the Philippines in 2022:
- Vietnam (609.7 tons)
- Indonesia (207.3 tons)
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