MERCOSUR: Nitrates Market 2024

Nitrates Market Size in MERCOSUR

The MERCOSUR nitrates market stood at $X in 2022, picking up by X% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value 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, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Nitrates Production in MERCOSUR

In value terms, nitrates production expanded slightly to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value 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, production decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Nitrates Exports

Exports in MERCOSUR

For the third consecutive year, MERCOSUR recorded decline in overseas shipments of nitrates (excluding those of potassium), which decreased by X% to X tons in 2022. In general, exports faced a sharp descent. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, nitrates exports shrank dramatically to $X in 2022. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Peru (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Ecuador (X tons), achieving a X% share of total exports. The following exporters - Uruguay (X tons) and Chile (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) emerged as the largest nitrates supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with a X% share of total exports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (X% per year) and Ecuador (X% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price continues to indicate resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Nitrates Imports

Imports in MERCOSUR

Nitrates imports expanded significantly to X tons in 2022, growing by X% compared with the previous year's figure. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, nitrates imports skyrocketed to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value 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, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Chile (X tons) and Peru (X tons) were the key importers of nitrates (excluding those of potassium) in MERCOSUR, together mixing up X% of total imports. Brazil (X tons) ranks next in terms of the total imports with an X% share, followed by Ecuador (X%). Argentina (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Brazil, 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 import price in MERCOSUR stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price, however, showed a slight setback. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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