CIS: Potassium Sulphate (Sop) Market 2023

Potassium Sulphate (Sop) Market Size in CIS

In 2021, the CIS potassium sulphate (SOP) market decreased by -46.5% to $X, falling for the second consecutive year after two years of growth. In general, consumption continues to indicate a pronounced decline. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Potassium Sulphate (Sop) Production in CIS

In value terms, potassium sulphate (SOP) production stood at $X in 2021 estimated in export price. Over the period under review, production recorded a deep contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 55%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports in CIS

In 2021, the amount of potassium sulphate (SOP) exported in the CIS surged to X tons, jumping by 25% on 2020 figures. Overall, exports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 43%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports soared to $X in 2021. In general, exports, however, showed a abrupt decrease. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Russia (X tons) represented the key exporter of potassium sulphate (SOP), generating 89% of total exports. It was distantly followed by Uzbekistan (X tons), creating a 10% share of total exports.

Exports from Russia decreased at an average annual rate of -6.1% from 2012 to 2021. At the same time, Uzbekistan (+1,421.6%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +1,421.6% from 2012-2021. While the share of Uzbekistan (+10 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-10.3 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest potassium sulphate (SOP) supplier in the CIS, comprising 82% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia amounted to -9.1%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, jumping by 20% against the previous year. Over the period under review, the export price, however, recorded a pronounced descent. The growth pace was the most rapid in 2014 when the export price increased by 21%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Uzbekistan ($X per ton), while Russia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+1.6%).

Potassium Sulphate (Sop) Imports

Imports in CIS

In 2021, supplies from abroad of potassium sulphate (SOP) decreased by -7.1% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 85%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) imports rose rapidly to $X in 2021. Over the period under review, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2019 when imports increased by 76%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia represented the major importer of potassium sulphate (SOP) in the CIS, with the volume of imports accounting for X tons, which was approx. 72% of total imports in 2021. Azerbaijan (X tons) ranks second in terms of the total imports with a 10% share, followed by Kazakhstan (8.2%) and Uzbekistan (4.7%). Armenia (X tons) held a minor share of total imports.

Imports into Russia increased at an average annual rate of +24.4% from 2012 to 2021. At the same time, Armenia (+54.3%), Kazakhstan (+31.1%) and Azerbaijan (+4.2%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing importer imported in the CIS, with a CAGR of +54.3% from 2012-2021. By contrast, Uzbekistan (-15.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia, Kazakhstan, Uzbekistan and Armenia increased by +30, +5.2, +4.7 and +2.3 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported potassium sulphate (SOP) in the CIS, comprising 71% of total imports. The second position in the ranking was held by Azerbaijan ($X), with a 13% share of total imports. It was followed by Kazakhstan, with a 7.8% share.

In Russia, potassium sulphate (SOP) imports expanded at an average annual rate of +22.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Azerbaijan (+5.8% per year) and Kazakhstan (+31.5% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, rising by 15% against the previous year. Overall, the import price, however, showed a pronounced contraction. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Azerbaijan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :