Iran: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Iran

In 2022, after two years of decline, there was significant growth in the Iranian potassic fertilizer market, when its value increased by X% to $X. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Potassic Fertilizer Exports

Exports from Iran

In 2022, shipments abroad of potassic fertilizers decreased by X% to X tons for the first time since 2013, thus ending a eight-year rising trend. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then dropped remarkably in the following year.

In value terms, potassic fertilizer exports fell markedly to $X in 2022. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

India (X tons) was the main destination for potassic fertilizer exports from Iran, accounting for a X% share of total exports. Moreover, potassic fertilizer exports to India exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. The third position in this ranking was taken by Armenia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Armenia (X% per year).

In value terms, India ($X) remains the key foreign market for potassic fertilizers exports from Iran, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Armenia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Armenia (X% per year).

Export Prices by Country

In 2022, the average potassic fertilizer export price amounted to $X per ton, stabilizing at the previous year. In general, export price indicated a modest expansion 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, potassic fertilizer export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Afghanistan ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Potassic Fertilizer Imports

Imports into Iran

After two years of decline, overseas purchases of potassic fertilizers increased by X% to X tons in 2022. In general, imports continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, potassic fertilizer imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Belarus (X tons) and the United Arab Emirates (X tons) were the main suppliers of potassic fertilizer imports to Iran, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

Among the main suppliers, Belarus, with a CAGR of X%, saw the highest growth rate of 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

The average potassic fertilizer import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price showed a pronounced downturn. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 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 Lebanon ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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