China: Salt Market Overview 2021

Salt Market Size in China

The Chinese salt market declined to $X in 2020, reducing by -X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 when the market value increased by X% year-to-year. Salt consumption peaked at $X in 2013; however, from 2014 to 2020, consumption remained at a lower figure.

Salt Production in China

In value terms, salt production contracted to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Salt production peaked at $X in 2013; however, from 2014 to 2020, production stood at a somewhat lower figure.

Salt Exports

Exports from China

In 2020, overseas shipments of salt and pure sodium chloride decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated a notable increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2009 when exports increased by X% against the previous year. Over the period under review, exports reached the maximum at X tonnes in 2013; however, from 2014 to 2020, exports remained at a lower figure.

In value terms, salt exports expanded significantly to $X in 2020. In general, exports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2008 when exports increased by X% y-o-y. Exports peaked at $X in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tonnes), Japan (X tonnes) and the Philippines (X tonnes) were the main destinations of salt exports from China, together comprising X% of total exports. These countries were followed by Bangladesh, France, Malaysia, Viet Nam, Hong Kong SAR, Taiwan (Chinese) and Thailand, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and France ($X) appeared to be the largest markets for salt exported from China worldwide, with a combined X% share of total exports.

France (+X% per year) recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average salt export price amounted to $X per tonne, with an increase of X% against the previous year. Over the period under review, export price indicated resilient growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, salt export price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. Over the period under review, average export prices attained the peak figure in 2020 and is expected to retain growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was Viet Nam ($X per tonne), while the average price for exports to South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR, while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into China

For the third consecutive year, China recorded decline in purchases abroad of salt and pure sodium chloride, which decreased by -X% to X tonnes in 2020. Overall, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X% year-to-year. As a result, imports attained the peak of X tonnes. From 2018 to 2020, the growth imports failed to regain the momentum.

In value terms, salt imports reduced to $X in 2020. In general, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

India (X tonnes), Australia (X tonnes) and Pakistan (X tonnes) were the main suppliers of salt imports to China, together accounting for X% of total imports. These countries were followed by Denmark, Mexico, the U.S. and Chile, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Australia ($X) and the U.S. ($X) appeared to be the largest salt suppliers to China, together comprising X% of total imports. Mexico, Denmark, Pakistan and Chile lagged somewhat behind, together accounting for a further X saw the highest rates of growth with regard to 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 2020, the average salt import price amounted to $X per tonne, dropping by -X% against the previous year. In general, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2009 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2010; however, from 2011 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per tonne), while the price for Chile ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform