Colombia - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in Colombia - 2022
Contents:
- Urea Price in Colombia (CIF) - 2022
- Urea Price in Colombia (FOB) - 2022
- Urea Imports in Colombia
- Urea Exports in Colombia
Urea Price in Colombia (CIF) - 2022
The average urea import price stood at $854 per ton in February 2022, declining by -11.8% against the previous month. Overall, the import price, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in November 2021 an increase of 64% against the previous month. Over the period under review, average import prices hit record highs at $968 per ton in January 2022, and then declined in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was China ($2,450 per ton), while the price for Oman ($750 per ton) was amongst the lowest.
From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by China (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Urea Price in Colombia (FOB) - 2022
The average urea export price stood at $911 per ton in 2022, growing by 21% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The growth pace was the most rapid in 2020 when the average export price increased by 247% against the previous year. As a result, the export price attained the peak level of $2,750 per ton. From 2021 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($2,225 per ton), while the average price for exports to the Dominican Republic ($488 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 Dominican Republic (+0.2%), while the prices for the other major destinations experienced a decline.
Urea Imports in Colombia
In 2022, after three years of growth, there was significant decline in supplies from abroad of urea, when their volume decreased by -28.1% to 513K tons. In general, total imports indicated a pronounced expansion from 2019 to 2022: its volume increased at an average annual rate of +3.3% 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 +10.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. As a result, imports attained the peak of 713K tons, and then fell remarkably in the following year.
In value terms, urea imports rose rapidly to $311M in 2022. Overall, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 133% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Urea in Colombia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Trinidad and Tobago | 30.5 | 33.1 | 97.4 | 80.0 | 37.9% |
| Russia | 18.1 | 37.1 | 91.0 | 73.0 | 59.2% |
| United States | 10.8 | 19.5 | 6.6 | 57.8 | 74.9% |
| China | 13.8 | 1.8 | 41.3 | 23.4 | 19.2% |
| Algeria | 13.2 | 15.1 | 1.6 | 20.2 | 15.2% |
| Venezuela | N/A | N/A | N/A | 17.1 | 0% |
| Finland | 0.8 | N/A | N/A | 13.6 | 157.1% |
| Oman | 6.2 | N/A | 13.1 | 7.8 | 8.0% |
| Indonesia | 4.4 | 8.1 | 14.0 | 0.6 | -48.5% |
| United Arab Emirates | 10.9 | N/A | N/A | N/A | 0% |
| Others | 5.1 | 3.4 | 10.3 | 17.5 | 50.8% |
| Total | 114 | 118 | 275 | 311 | 39.7% |
Top Suppliers of Urea to Colombia in 2022:
- Trinidad and Tobago (184.9K tons)
- Russia (92.3K tons)
- United States (68.1K tons)
- China (65.3K tons)
- Venezuela (32.6K tons)
- Algeria (22.1K tons)
- Finland (17.4K tons)
- Oman (8.6K tons)
- Indonesia (2.4K tons)
Urea Exports in Colombia
In 2022, shipments abroad of urea decreased by -67.7% to 220 tons, falling for the second consecutive year after two years of growth. In general, exports recorded a precipitous decline. The most prominent rate of growth was recorded in 2020 with an increase of 122% against the previous year. As a result, the exports reached the peak of 1.2K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, urea exports shrank markedly to $200K in 2022. Overall, exports saw a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 669% against the previous year. As a result, the exports reached the peak of $3.4M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Urea in Colombia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Peru | N/A | N/A | N/A | 129 | 0% |
| Panama | N/A | 12.9 | N/A | 32.4 | 58.5% |
| Dominican Republic | 195 | 207 | 310 | 25.1 | -49.5% |
| Ecuador | 198 | 3,144 | 197 | 13.2 | -59.5% |
| Bolivia | 44.0 | N/A | 7.2 | N/A | -59.5% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 437 | 3,364 | 514 | 200 | -22.9% |
Top Export Markets for Urea from Colombia in 2022:
- Peru (118.2 tons)
- Dominican Republic (51.4 tons)
- Panama (44.2 tons)
- Ecuador (5.9 tons)
This report provides an in-depth analysis of the urea market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 4001 - Urea
Country coverage:
- Colombia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Colombia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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