South Africa - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in South Africa - 2023
Contents:
- Urea Price in South Africa (CIF) - 2022
- Urea Price in South Africa (FOB) - 2022
- Urea Imports in South Africa
- Urea Exports in South Africa
Urea Price in South Africa (CIF) - 2022
The average urea import price stood at $728 per ton in 2022, picking up by 76% against the previous year. In general, the import price saw a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Saudi Arabia ($830 per ton) and Oman ($709 per ton), while the price for Bahrain ($610 per ton) and Russia ($678 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Urea Price in South Africa (FOB) - 2022
The average urea export price stood at $496 per ton in 2022, remaining constant against the previous year. Overall, the export price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices reached the peak figure at $601 per ton in 2012; however, from 2013 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 Mozambique ($1,199 per ton), while the average price for exports to Zambia ($365 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 Mozambique (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.
Urea Imports in South Africa
In 2022, approx. 867K tons of urea were imported into South Africa; which is down by -23.4% compared with the previous year's figure. Over the period under review, total imports indicated tangible growth from 2019 to 2022: its volume increased at an average annual rate of +2.3% 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 +9.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 43%. As a result, imports reached the peak of 1.1M tons, and then declined notably in the following year.
In value terms, urea imports skyrocketed to $631M in 2022. Overall, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 131%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
| Import of Urea in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | 54.3 | 117 | 159 | 206 | 56.0% |
| Qatar | 95.7 | 42.1 | 141 | 191 | 25.9% |
| Oman | 4.7 | 6.2 | 55.1 | 162 | 225.4% |
| Russia | 16.7 | 8.3 | 17.1 | 46.2 | 40.4% |
| Bahrain | 4.9 | 9.5 | 14.7 | 14.0 | 41.9% |
| United Arab Emirates | 13.8 | 7.4 | 49.3 | N/A | 89.0% |
| Others | 29.5 | 11.7 | 30.8 | 11.4 | -27.2% |
| Total | 220 | 202 | 467 | 631 | 42.1% |
Top Suppliers of Urea to South Africa in 2022:
- Qatar (269.7K tons)
- Saudi Arabia (248.5K tons)
- Oman (228.7K tons)
- Russia (68.2K tons)
- Bahrain (23.0K tons)
Urea Exports in South Africa
For the fourth year in a row, South Africa recorded growth in shipments abroad of urea, which increased by 49% to 165K tons in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2021 when exports increased by 87% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.
In value terms, urea exports surged to $82M in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 151% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Urea in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zambia | 7.3 | 2.5 | 11.8 | 40.6 | 77.2% |
| Zimbabwe | 3.8 | 8.7 | 30.0 | 12.3 | 47.9% |
| Swaziland | 6.5 | 5.9 | 7.5 | 11.5 | 20.9% |
| Angola | 0.1 | 0.3 | N/A | 5.3 | 275.6% |
| France | 0.2 | 1.3 | 1.5 | 2.7 | 138.1% |
| Mauritius | 0.1 | N/A | 0.5 | 2.7 | 200.0% |
| Botswana | 1.5 | 1.3 | 0.6 | 2.1 | 11.9% |
| Others | 1.8 | 1.5 | 2.1 | 4.4 | 34.7% |
| Total | 21.3 | 21.6 | 54.0 | 81.7 | 56.5% |
Top Export Markets for Urea from South Africa in 2022:
- Zambia (111.4K tons)
- Zimbabwe (16.3K tons)
- Swaziland (14.9K tons)
- Angola (6.6K tons)
- France (5.0K tons)
- Mauritius (3.0K tons)
- Botswana (2.9K tons)
This report provides an in-depth analysis of the urea market in South Africa. 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:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- 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.
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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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