Price for Phosphates; N.E.S in Item No. 2835.2 in India - 2023

Contents:

1. Price for Phosphates; N.E.S in Item No. 2835.2 in India (CIF) - 2023
2. Price for Phosphates; N.E.S in Item No. 2835.2 in India (FOB) - 2022
3. Imports of Phosphates; N.E.S in Item No. 2835.2 in India
4. Exports of Phosphates; N.E.S in Item No. 2835.2 in India

Price for Phosphates; N.E.S in Item No. 2835.2 in India (CIF) - 2023

In October 2023, the average import price for phosphates; n.e.s in item no. 2835.2s amounted to $1,899 per ton, reducing by -6.9% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in July 2023 when the average import price increased by 25% m-o-m. The import price peaked at $3,174 per ton in February 2023; however, from March 2023 to October 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Germany ($5,174 per ton), while the price for China ($1,480 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Germany (+0.2%), while the prices for the other major suppliers experienced a decline.

Price for Phosphates; N.E.S in Item No. 2835.2 in India (FOB) - 2022

In 2022, the average export price for phosphates; n.e.s in item no. 2835.2s amounted to $3,499 per ton, reducing by -2.3% against the previous year. In general, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for phosphates; n.e.s in item no. 2835.2s increased by +12.7% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 116%. Over the period under review, the average export prices attained the maximum at $3,950 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($11,742 per ton), while the average price for exports to Myanmar ($388 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 Bangladesh (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Phosphates; N.E.S in Item No. 2835.2 in India

In 2022, purchases abroad of phosphates; n.e.s in item no. 2835.2s decreased by -16.8% to 4.9K tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a perceptible setback. The pace of growth was the most pronounced in 2020 when imports increased by 19% against the previous year. As a result, imports reached the peak of 6.3K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of phosphates; n.e.s in item no. 2835.2s soared to $13M in 2022. The total import value increased at an average annual rate of +12.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Phosphates; N.E.S in Item No. 2835.2 to India in 2022:

1. China (3869.4 tons)
2. United States (452.3 tons)
3. Germany (154.8 tons)
4. Italy (141.0 tons)
5. Belgium (96.7 tons)
6. Netherlands (94.5 tons)
7. Thailand (23.0 tons)

Exports of Phosphates; N.E.S in Item No. 2835.2 in India

In 2022, exports of phosphates; n.e.s in item no. 2835.2s from India skyrocketed to 2.4K tons, increasing by 35% on 2021 figures. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 52% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of phosphates; n.e.s in item no. 2835.2s soared to $8.4M in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 72% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Export Markets for Phosphates; N.E.S in Item No. 2835.2 from India in 2022:

1. Myanmar (446.7 tons)
2. United States (359.6 tons)
3. South Africa (205.1 tons)
4. Qatar (182.2 tons)
5. France (173.1 tons)
6. United Arab Emirates (168.6 tons)
7. Jordan (100.0 tons)
8. Bangladesh (97.2 tons)
9. Netherlands (70.0 tons)
10. Saudi Arabia (69.9 tons)
11. Russia (55.1 tons)
12. Kenya (47.3 tons)
13. Japan (40.2 tons)

Source: IndexBox Market Intelligence Platform