New Zealand: Fertilizer Market 2023

Fertilizer Market Size in New Zealand

After two years of decline, the New Zealand fertilizer market increased by 37% to $X in 2021. The market value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fertilizer Production in New Zealand

In value terms, fertilizer production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a significant curtailment. The pace of growth was the most pronounced in 2015 when the production volume increased by 33%. Fertilizer production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Fertilizer Exports

Exports from New Zealand

In 2021, fertilizer exports from New Zealand shrank to X tons, which is down by -13.4% against the previous year's figure. In general, exports continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 33%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, fertilizer exports stood at $X in 2021. Overall, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2015 with an increase of 24%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

New Caledonia (X tons) was the main destination for fertilizer exports from New Zealand, with a 18% share of total exports. Moreover, fertilizer exports to New Caledonia exceeded the volume sent to the second major destination, Australia (X tons), twofold. Tonga (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to New Caledonia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-33.9% per year) and Tonga (-6.6% per year).

In value terms, Australia ($X), New Caledonia ($X) and Tonga ($X) constituted the largest markets for fertilizer exported from New Zealand worldwide, with a combined 35% share of total exports. Fiji, French Polynesia, Samoa and Cook Islands lagged somewhat behind, together accounting for a further 8.9%.

Among the main countries of destination, Samoa, with a CAGR of +7.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2021, surging by 16% against the previous year. In general, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +14.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fertilizer export price increased by +41.3% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 192% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to New Caledonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+27.7%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into New Zealand

In 2021, imports of fertilizers into New Zealand expanded notably to X tons, growing by 7.8% on 2020 figures. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 15%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, fertilizer imports surged to $X in 2021. In general, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Saudi Arabia (X tons) and China (X tons) were the main suppliers of fertilizer imports to New Zealand, together accounting for 33% of total imports. These countries were followed by Canada, South Korea, Australia, Lithuania, Belarus, the United States and Indonesia, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +54.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), China ($X) and Malaysia ($X) appeared to be the largest fertilizer suppliers to New Zealand, together comprising 33% of total imports. These countries were followed by Canada, South Korea, Australia, the United States, Lithuania, Belarus and Indonesia, which together accounted for a further 12%.

Among the main suppliers, South Korea, with a CAGR of +45.5%, 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

In 2021, the average fertilizer import price amounted to $X per ton, surging by 48% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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