India: Salt Market 2022

Salt Market Size in India

In 2021, the Indian salt market increased by X% to $X, rising for the sixth year in a row after two years of decline. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2015 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Salt Production in India

In value terms, salt production totaled $X in 2021 estimated in export price. Over the period under review, production showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Salt Exports

Exports from India

In 2021, shipments abroad of salt and pure sodium chloride decreased by -X% to X tonnes, falling for the third consecutive year after two years of growth. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at X tonnes in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, salt exports dropped dramatically to $X in 2021. Over the period under review, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tonnes), China (X tonnes) and Japan (X tonnes) were the main destinations of salt exports from India, together comprising X% of total exports. Indonesia, Qatar, Taiwan (Chinese) and Bangladesh lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Taiwan (Chinese) (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for salt exported from India were China ($X), South Korea ($X) and Japan ($X), together comprising X% of total exports. These countries were followed by Qatar, Indonesia, Bangladesh and Taiwan (Chinese), which together accounted for a further X terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average salt export price amounted to $X per tonne, waning by -X% against the previous year. Overall, the export price continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per tonne in 2020, and then declined notably in the following year.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Bangladesh ($X per tonne) and Qatar ($X per tonne), while the average price for exports to South Korea ($X per tonne) and Indonesia ($X per tonne) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Salt Imports

Imports into India

In 2021, salt imports into India contracted sharply to X tonnes, falling by -X% on the previous year's figure. Over the period under review, imports, however, posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes, and then declined sharply in the following year.

In value terms, salt imports reduced rapidly to $X in 2021. Overall, imports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then reduced remarkably in the following year.

Imports by Country

In 2021, Iran (X tonnes) constituted the largest salt supplier to India, with a X% share of total imports. Moreover, salt imports from Iran exceeded the figures recorded by the second-largest supplier, China (X tonnes), fivefold. The United Arab Emirates (X tonnes) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Iran stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and the United Arab Emirates (+X% per year).

In value terms, the United Arab Emirates ($X), Iran ($X) and China ($X) were the largest salt suppliers to India, with a combined X% share of total imports.

Iran, with a CAGR of +X%, recorded the highest growth rate of 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 2021, the average salt import price amounted to $X per tonne, increasing by X% against the previous year. In general, the import price enjoyed a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was the United Arab Emirates ($X per tonne), while the price for Pakistan ($X per tonne) was amongst the lowest.

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

Source: IndexBox Platform