China: Fertilizer Market 2022

Fertilizer Market Size in China

In 2021, the Chinese fertilizer market decreased by -5.4% to $X, falling for the third year in a row after four years of growth. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Fertilizer Production in China

In value terms, fertilizer production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Fertilizer Exports

Exports from China

For the fifth year in a row, China recorded growth in overseas shipments of fertilizers, which increased by 16% to X tons in 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +42.4% against 2016 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 54%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, fertilizer exports surged to $X in 2021. Overall, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X tons), India (X tons) and Vietnam (X tons) were the main destinations of fertilizer exports from China, with a combined 44% share of total exports.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +27.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Brazil ($X) and Vietnam ($X) constituted the largest markets for fertilizer exported from China worldwide, together accounting for 46% of total exports.

In terms of the main countries of destination, Brazil, with a CAGR of +25.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fertilizer export price amounted to $X per ton, jumping by 51% against the previous year. In general, the export price, however, saw a slight descent. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Malaysia ($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 Argentina (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into China

In 2021, supplies from abroad of fertilizers decreased by -13.4% to X tons, falling for the second consecutive year after three years of growth. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 22%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, fertilizer imports contracted to $X in 2021. Over the period under review, imports recorded a pronounced decline. The most prominent rate of growth was recorded in 2019 when imports increased by 30% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Russia (X tons), Canada (X tons) and Belarus (X tons) were the main suppliers of fertilizer imports to China, with a combined 71% share of total imports. Israel, Norway, Lao People's Democratic Republic, Jordan and Germany lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lao People's Democratic Republic (with a CAGR of +24.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Canada ($X) and Belarus ($X) were the largest fertilizer suppliers to China, with a combined 64% share of total imports. These countries were followed by Norway, Israel, Lao People's Democratic Republic, Jordan and Germany, which together accounted for a further 23%.

Lao People's Democratic Republic, with a CAGR of +20.5%, recorded the highest growth rate of the value of imports, in terms of 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 2021, the average fertilizer import price amounted to $X per ton, picking up by 11% against the previous year. Overall, the import price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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