Africa: Fertilizer Market 2024

Fertilizer Market Size in Africa

The African fertilizer market rose notably to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2023 and is expected to retain growth in years to come.

Fertilizer Production in Africa

In value terms, fertilizer production expanded rapidly to $X in 2023 estimated in export price. The total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Fertilizer Exports

Exports in Africa

In 2023, after two years of growth, there was significant decline in shipments abroad of fertilizers, when their volume decreased by X% to X tons. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2022, and then fell significantly in the following year.

In value terms, fertilizer exports dropped significantly to $X in 2023. Over the period under review, exports, however, showed a prominent increase. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then dropped significantly in the following year.

Exports by Country

In 2023, Morocco (X tons) was the main exporter of fertilizers, constituting X% of total exports. Egypt (X tons) ranks second in terms of the total exports with a X% share, followed by Algeria (X%) and Nigeria (X%). The following exporters - South Africa (X tons) and Tunisia (X tons) - each amounted to a X% share of total exports.

Exports from Morocco increased at an average annual rate of X% from 2012 to 2023. At the same time, Nigeria (X%), Algeria (X%), Egypt (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Tunisia (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Africa (X p.p.), Tunisia (X p.p.) and Egypt (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X), Egypt ($X) and Algeria ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. Nigeria, Tunisia and South Africa lagged somewhat behind, together comprising a further X%.

Nigeria, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other leaders experienced more modest paces of growth.

Fertilizer Imports

Imports in Africa

In 2023, approx. X tons of fertilizers were imported in Africa; falling by X% against 2022. Total imports indicated a noticeable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2013 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then contracted modestly in the following year.

In value terms, fertilizer imports contracted to $X in 2023. Total imports indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2023, South Africa (X tons), distantly followed by Ethiopia (X tons), Djibouti (X tons), Zambia (X tons), Tanzania (X tons), Morocco (X tons), Nigeria (X tons) and Kenya (X tons) represented the main importers of fertilizers, together constituting X% of total imports. Benin (X tons), Ghana (X tons), Zimbabwe (X tons), Togo (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Benin (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Zambia ($X) and Djibouti ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Tanzania, Ethiopia, Zimbabwe, Kenya, Morocco, Nigeria, Ghana, Benin, Cote d'Ivoire and Togo lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Benin, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Zimbabwe ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Zimbabwe (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform