Ecuador: Fertilizer Market 2024

Fertilizer Market Size in Ecuador

The Ecuadorian fertilizer market soared to $X in 2022, jumping by X% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fertilizer Production in Ecuador

In value terms, fertilizer production dropped to $X in 2022 estimated in export price. In general, production showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Fertilizer Exports

Exports from Ecuador

In 2022, the amount of fertilizers exported from Ecuador skyrocketed to X tons, jumping by X% against 2021. Over the period under review, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer exports surged to $X in 2022. In general, exports continue to indicate a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons), the Dominican Republic (X tons) and Honduras (X tons) were the main destinations of fertilizer exports from Ecuador, together accounting for X% of total exports. Nicaragua, Guatemala, Colombia, Chile and Bolivia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fertilizer exported from Ecuador were Peru ($X), the Dominican Republic ($X) and Honduras ($X), together accounting for X% of total exports.

Honduras, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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 2022, the average fertilizer export price amounted to $X per ton, declining by X% against the previous year. In general, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Ecuador

In 2022, approx. X tons of fertilizers were imported into Ecuador; rising by X% against 2021. In general, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer imports skyrocketed to $X in 2022. Over the period under review, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), China (X tons) and the United States (X tons) were the main suppliers of fertilizer imports to Ecuador, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of fertilizers to Ecuador, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average fertilizer import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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