Hungary: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Hungary

In 2023, the Hungarian nitrogenous fertilizer market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a tangible expansion. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Nitrogenous Fertilizer Production in Hungary

In value terms, nitrogenous fertilizer production fell to $X in 2023 estimated in export price. In general, production recorded a noticeable contraction. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports from Hungary

In 2023, shipments abroad of nitrogenous fertilizers (mineral or chemical) was finally on the rise to reach X tons after two years of decline. Overall, total exports indicated a modest increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, nitrogenous fertilizer exports amounted to $X in 2023. Over the period under review, exports recorded temperate growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the near future.

Exports by Country

Romania (X tons), Poland (X tons) and Germany (X tons) were the main destinations of nitrogenous fertilizer exports from Hungary, with a combined X% share of total exports. Austria, Slovakia, Italy, Serbia, Croatia and the Czech Republic lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Germany ($X) and Poland ($X) were the largest markets for nitrogenous fertilizer exported from Hungary worldwide, with a combined X% share of total exports. Slovakia, Austria, Italy, Serbia, Croatia and the Czech Republic lagged somewhat behind, together accounting for a further X%.

Croatia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2023, the average nitrogenous fertilizer export price amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, showed mild growth. The pace of growth was the most pronounced in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then declined significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogenous Fertilizer Imports

Imports into Hungary

In 2023, after two years of growth, there was significant decline in overseas purchases of nitrogenous fertilizers (mineral or chemical), when their volume decreased by X% to X tons. Over the period under review, total imports indicated notable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then contracted sharply in the following year.

In value terms, nitrogenous fertilizer imports fell significantly to $X in 2023. In general, imports, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then fell remarkably in the following year.

Imports by Country

Austria (X tons), Slovakia (X tons) and Slovenia (X tons) were the main suppliers of nitrogenous fertilizer imports to Hungary, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Austria ($X) and Slovenia ($X) were the largest nitrogenous fertilizer suppliers to Hungary, with a combined X% share of total imports.

Slovenia, with a CAGR of X%, recorded 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 2023, the average nitrogenous fertilizer import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform