Argentina: Fertilizer Market 2024

Fertilizer Market Size in Argentina

In 2023, after three years of growth, there was significant decline in the Argentinian fertilizer market, when its value decreased by X% to $X. In general, consumption, however, posted pronounced growth. Fertilizer consumption peaked at $X in 2022, and then declined significantly in the following year.

Fertilizer Production in Argentina

In value terms, fertilizer production stood at $X in 2023 estimated in export price. In general, production showed a pronounced descent. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Fertilizer production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Fertilizer Exports

Exports from Argentina

In 2023, shipments abroad of fertilizers increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, fertilizer exports declined dramatically to $X in 2023. Overall, exports, however, showed a deep reduction. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for fertilizer exports from Argentina, accounting for a X% share of total exports. Moreover, fertilizer exports to Paraguay exceeded the volume sent to the second major destination, Brazil (X tons), fourfold. The third position in this ranking was taken by Uruguay (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Paraguay totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Uruguay (X% per year).

In value terms, Paraguay ($X) remains the key foreign market for fertilizers exports from Argentina, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Uruguay, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Paraguay totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Uruguay (X% per year).

Export Prices by Country

In 2023, the average fertilizer export price amounted to $X per ton, declining by X% against the previous year. In general, the export price showed a noticeable setback. The pace of growth was the most pronounced in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then fell rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Chile (X%), while the prices for the other major destinations experienced mixed trend patterns.

Fertilizer Imports

Imports into Argentina

In 2023, supplies from abroad of fertilizers decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw tangible growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, fertilizer imports dropped sharply to $X in 2023. In general, imports, however, recorded a measured expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then fell dramatically in the following year.

Imports by Country

Morocco (X tons), the United States (X tons) and China (X tons) were the main suppliers of fertilizer imports to Argentina, with a combined X% share of total imports. Egypt, Nigeria, Russia, Lithuania, Algeria, Belarus, the Netherlands, Turkmenistan, Norway and Mexico lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest fertilizer suppliers to Argentina were Morocco ($X), China ($X) and the United States ($X), with a combined X% share of total imports. Egypt, Lithuania, Russia, Nigeria, Algeria, Turkmenistan, Norway, the Netherlands, Belarus and Mexico lagged somewhat behind, together accounting for a further X%.

Egypt, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average fertilizer import price amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for Belarus ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform