Mexico: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Mexico

The Mexican nitrogenous fertilizer market contracted to $X in 2023, which is down by X% against the previous year. Overall, consumption, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2018 when the market value increased by X%. Nitrogenous fertilizer consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Nitrogenous Fertilizer Production in Mexico

In value terms, nitrogenous fertilizer production reduced markedly to $X in 2023 estimated in export price. Over the period under review, production recorded a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of X%. Nitrogenous fertilizer production peaked at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Nitrogenous Fertilizer Exports

Exports from Mexico

In 2023, approx. X tons of nitrogenous fertilizers (mineral or chemical) were exported from Mexico; with a decrease of X% on the year before. In general, exports recorded a sharp decrease. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, nitrogenous fertilizer exports fell dramatically to $X in 2023. Over the period under review, exports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for nitrogenous fertilizer exports from Mexico, accounting for a X% share of total exports. It was followed by Cuba (X tons), with a X% share of total exports. The third position in this ranking was taken by Costa Rica (X kg), with less than X% share.

From 2012 to 2023, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Costa Rica (X% per year).

In value terms, the United States ($X) remains the key foreign market for nitrogenous fertilizers (mineral or chemical) exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Cuba ($X), with a X% share of total exports. It was followed by Guatemala, with less than X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (X% per year) and Guatemala (X% per year).

Export Prices by Country

In 2023, the average nitrogenous fertilizer export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price enjoyed strong growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Cuba ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogenous Fertilizer Imports

Imports into Mexico

In 2023, after two years of decline, there was significant growth in purchases abroad of nitrogenous fertilizers (mineral or chemical), when their volume increased by X% to X tons. Overall, imports, however, showed a mild downturn. Imports peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports dropped dramatically to $X in 2023. In general, imports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

China (X tons), Russia (X tons) and the United States (X tons) were the main suppliers of nitrogenous fertilizer imports to Mexico, with a combined X% share of total imports. Algeria, Qatar, Belgium and Oman lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest nitrogenous fertilizer suppliers to Mexico were China ($X), Russia ($X) and the United States ($X), with a combined X% share of total imports. Qatar, Algeria, Oman and Belgium lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to 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 nitrogenous fertilizer import price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price saw a slight setback. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform