Australia: Potassium Chloride (Mop) Market 2023

Potassium Chloride (Mop) Market Size in Australia

In 2021, the Australian potassium chloride (MOP) market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a resilient increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Potassium Chloride (Mop) Exports

Exports from Australia

Potassium chloride (MOP) exports from Australia surged to X tons in 2021, growing by 659% on 2020. Over the period under review, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 998%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, potassium chloride (MOP) exports dropped significantly to $X in 2021. Overall, exports, however, showed a deep reduction. The growth pace was the most rapid in 2013 when exports increased by 663%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Timor-Leste (X tons) was the main destination for potassium chloride (MOP) exports from Australia, with a 89% share of total exports. Moreover, potassium chloride (MOP) exports to Timor-Leste exceeded the volume sent to the second major destination, New Zealand (X tons), more than tenfold. The third position in this ranking was taken by Papua New Guinea (X tons), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Timor-Leste was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-9.3% per year) and Papua New Guinea (-7.5% per year).

In value terms, Timor-Leste ($X) emerged as the key foreign market for potassium chloride (MOP) exports from Australia, comprising 51% of total exports. The second position in the ranking was held by Malaysia ($X), with a 21% share of total exports. It was followed by New Zealand, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Timor-Leste was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+9.4% per year) and New Zealand (-18.1% per year).

Export Prices by Country

In 2021, the average potassium chloride (MOP) export price amounted to $X per ton, which is down by -89.4% against the previous year. Over the period under review, the export price recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2020 an increase of 1,046%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Timor-Leste ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+8.0%), while the prices for the other major destinations experienced mixed trend patterns.

Potassium Chloride (Mop) Imports

Imports into Australia

In 2021, overseas purchases of potassium chloride (MOP) were finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 51% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, potassium chloride (MOP) imports surged to $X in 2021. In general, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 when imports increased by 62% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of potassium chloride (MOP) to Australia, with a 58% share of total imports. Moreover, potassium chloride (MOP) imports from Canada exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+150.5% per year) and the United States (+5.1% per year).

In value terms, Canada ($X) constituted the largest supplier of potassium chloride (MOP) to Australia, comprising 56% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Lithuania, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.8% per year) and Lithuania (+144.9% per year).

Import Prices by Country

In 2021, the average potassium chloride (MOP) import price amounted to $X per ton, rising by 12% against the previous year. In general, the import price, however, saw a perceptible decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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