Myanmar: Fertilizer Market 2022

Fertilizer Market Size in Myanmar

In 2021, the Myanmar's fertilizer market decreased by -8.2% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Fertilizer Production in Myanmar

In value terms, fertilizer production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 62% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Fertilizer Exports

Exports from Myanmar

Fertilizer exports from Myanmar soared to X tons in 2021, picking up by 2,545% on 2020. In general, exports, however, continue to indicate a abrupt setback. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, fertilizer exports surged to $X in 2021. Overall, exports, however, continue to indicate a dramatic decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for fertilizer exports from Myanmar, with a approx. 4.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand amounted to +63.0%.

In value terms, Thailand ($X) also remains the key foreign market for fertilizer exports from Myanmar.

From 2012 to 2021, the average annual growth rate of value to Thailand stood at +116.5%.

Export Prices by Country

In 2021, the average fertilizer export price amounted to $X per ton, waning by -73.3% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The growth pace was the most rapid in 2020 when the average export price increased by 296%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Thailand amounted to +32.8% per year.

Fertilizer Imports

Imports into Myanmar

After seven years of growth, purchases abroad of fertilizers decreased by -10% to X tons in 2021. In general, imports, however, posted strong growth. The growth pace was the most rapid in 2018 when imports increased by 47% against the previous year. Imports peaked at X tons in 2020, and then shrank in the following year.

In value terms, fertilizer imports shrank to $X in 2021. Overall, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 49%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest fertilizer supplier to Myanmar, with a 28% share of total imports. Moreover, fertilizer imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+42.9% per year) and Thailand (+25.6% per year).

In value terms, China ($X) constituted the largest supplier of fertilizer to Myanmar, comprising 26% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by Thailand, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+35.6% per year) and Thailand (+13.7% per year).

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2021, increasing by 4% against the previous year. Overall, the import price, however, recorded a abrupt contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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