Report Update Apr 1, 2024

Cuba - NPK Fertilizers - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Cuba

In 2021, the Cuban NPK fertilizer market decreased by -13.1% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, continues to indicate a measured expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Npk Fertilizer Production in Cuba

In value terms, NPK fertilizer production shrank to $X in 2021 estimated in export price. In general, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 39%. Production peaked at $X in 2020, and then fell in the following year.

Npk Fertilizer Exports

Exports from Cuba

For the tenth year in a row, Cuba recorded growth in shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, which increased by 39% to X tons in 2021. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 92%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, NPK fertilizer exports surged to $X in 2021. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 73% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

The Dominican Republic (X tons) and Canada (X tons) were the main destinations of NPK fertilizer exports from Cuba.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +20.5%).

In value terms, the Dominican Republic ($X) remains the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Cuba, comprising 95% of total exports. The second position in the ranking was held by Canada ($X), with a 5.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic totaled +33.3%.

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, NPK fertilizer export price increased by +105.1% against 2015 indices. The most prominent rate of growth was recorded in 2017 an increase of 18%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+10.6%).

Npk Fertilizer Imports

Imports into Cuba

In 2021, overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -33% to X tons, falling for the third consecutive year after three years of growth. Overall, imports saw a deep contraction. The growth pace was the most rapid in 2016 when imports increased by 112%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, NPK fertilizer imports dropped markedly to $X in 2021. In general, imports saw a deep slump. The pace of growth was the most pronounced in 2016 when imports increased by 72%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of NPK fertilizer imports to Cuba, together comprising 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +25.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest NPK fertilizer suppliers to Cuba were Mexico ($X), China ($X) and the Netherlands ($X), together accounting for 95% of total imports.

In terms of the main suppliers, China, with a CAGR of +25.9%, recorded the highest rates of growth with regard to the value of imports, 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 NPK fertilizer import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2017 an increase of 31%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for mixed nitrogen, phosphorus and potassium (npk) fertilizers in the world?

The United States remains the largest NPK fertilizer consuming country worldwide, accounting for 16% of total volume. Moreover, NPK fertilizer consumption in the United States exceeded the figures recorded by the second-largest consumer, India, twofold. Spain ranked third in terms of total consumption with a 6.7% share.

What are the largest producers of mixed nitrogen, phosphorus and potassium (npk) fertilizers in the world?

The countries with the highest volumes of production in 2021 were the United States, Russia and Vietnam, together comprising 37% of global production. Spain, Indonesia, India, Norway, South Korea, Morocco, Belgium, Poland, Finland and the UK lagged somewhat behind, together accounting for a further 38%.

What are the leading suppliers of mixed nitrogen, phosphorus and potassium (npk) fertilizers to Cuba?

In value terms, Mexico, China and the Netherlands appeared to be the largest NPK fertilizer suppliers to Cuba, together comprising 95% of total imports.

What are the leading importers of mixed nitrogen, phosphorus and potassium (npk) fertilizers from Cuba?

In value terms, the Dominican Republic remains the key foreign market for mixed nitrogen, phosphorus and potassium NPK) fertilizers exports from Cuba, comprising 95% of total exports. The second position in the ranking was held by Canada, with a 5.5% share of total exports.

What is the average export price for mixed nitrogen, phosphorus and potassium (npk) fertilizers in Cuba?

In 2021, the average NPK fertilizer export price amounted to $1,562 per ton, growing by 12% against the previous year.

What is the average import price for mixed nitrogen, phosphorus and potassium (npk) fertilizers in Cuba?

The average NPK fertilizer import price stood at $513 per ton in 2021, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the npk fertilizer market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4021 -

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023