Latin America and the Caribbean: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Latin America and the Caribbean

After two years of growth, the Latin American NPK fertilizer market decreased by X% to $X in 2023. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2022, and then shrank significantly in the following year.

Npk Fertilizer Production in Latin America and the Caribbean

In value terms, NPK fertilizer production stood at $X in 2023 estimated in export price. Over the period under review, production, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Npk Fertilizer Exports

Exports in Latin America and the Caribbean

In 2023, approx. X tons of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were exported in Latin America and the Caribbean; rising by X% on the year before. Over the period under review, exports, however, saw a perceptible slump. The growth pace was the most rapid in 2018 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, NPK fertilizer exports declined to $X in 2023. In general, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Brazil represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Colombia (X tons), the Dominican Republic (X tons), Guatemala (X tons) and Costa Rica (X tons), together making up a X% share of total exports. The following exporters - Chile (X tons) and El Salvador (X tons) - together made up X% of total exports.

Exports from Brazil decreased at an average annual rate of X% from 2012 to 2023. At the same time, the Dominican Republic (X%), Chile (X%), Costa Rica (X%) and Colombia (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Guatemala experienced a relatively flat trend pattern. By contrast, El Salvador (X%) illustrated a downward trend over the same period. The Dominican Republic (X p.p.), Colombia (X p.p.), Costa Rica (X p.p.) and Chile (X p.p.) significantly strengthened its position in terms of the total exports, while El Salvador and Brazil saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Brazil stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (X% per year) and Chile (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped sharply in the following year.

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 ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Npk Fertilizer Imports

Imports in Latin America and the Caribbean

After two years of growth, supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons in 2023. Total imports indicated slight growth 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. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2022, and then declined dramatically in the following year.

In value terms, NPK fertilizer imports reduced sharply to $X in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then declined markedly in the following year.

Imports by Country

Brazil was the largest importer of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. Paraguay (X tons) took the second position in the ranking, followed by Colombia (X tons). All these countries together took approx. X% share of total imports. Guatemala (X tons), Argentina (X tons), Mexico (X tons), Venezuela (X tons) and Belize (X tons) took a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to NPK fertilizer imports into Brazil stood at X%. At the same time, Colombia (X%), Belize (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Argentina (X%), Paraguay (X%), Mexico (X%) and Venezuela (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Mexico (X p.p.), Paraguay (X p.p.) and Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Paraguay ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

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

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Argentina ($X per ton), while Belize ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform