Latin America and the Caribbean: Market for Animal Or Vegetable Fertilisers 2024

Market Size for Animal Or Vegetable Fertilisers in Latin America and the Caribbean

The Latin American animal or vegetable fertilisers market shrank to $X in 2023, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Animal Or Vegetable Fertilisers in Latin America and the Caribbean

In value terms, animal or vegetable fertilisers production shrank slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

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Exports of Animal Or Vegetable Fertilisers

Exports in Latin America and the Caribbean

In 2023, shipments abroad of animal or vegetable fertilisers was finally on the rise to reach X tons after three years of decline. In general, exports, however, continue to indicate a deep slump. The pace of growth was the most pronounced in 2017 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, animal or vegetable fertilisers exports rose remarkably to $X in 2023. Overall, exports, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Brazil (X tons), the Dominican Republic (X tons) and Chile (X tons), together amounting to X% of total export. Peru (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (X%) and Colombia (X%).

From 2012 to 2023, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Chile ($X) remains the largest animal or vegetable fertilisers supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Chile amounted to X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a prominent increase from 2012 to 2023: its price 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. Based on 2023 figures, animal or vegetable fertilisers export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

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

Imports of Animal Or Vegetable Fertilisers

Imports in Latin America and the Caribbean

In 2023, animal or vegetable fertilisers imports in Latin America and the Caribbean rose sharply to X tons, growing by X% against 2022. Total imports indicated a temperate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to see steady growth in years to come.

In value terms, animal or vegetable fertilisers imports reduced to $X in 2023. Overall, imports, however, saw a mild slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Paraguay (X tons), distantly followed by Brazil (X tons), the Dominican Republic (X tons), Chile (X tons), Peru (X tons), Ecuador (X tons) and Argentina (X tons) were the main importers of animal or vegetable fertilisers, together mixing up X% of total imports. The following importers - Costa Rica (X tons), Aruba (X tons), Panama (X tons), Uruguay (X tons) and Guatemala (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Argentina (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Peru ($X) and Chile ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. The Dominican Republic, Paraguay, Argentina, Ecuador, Guatemala, Costa Rica, Uruguay, Panama and Aruba lagged somewhat behind, together comprising a further X%.

Argentina, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guatemala ($X per ton), while Aruba ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform