Peru: Phosphate Rock Market 2022

Phosphate Rock Market Size in Peru

In 2020, the Peruvian phosphate rock market decreased by -X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. from 2014 to 2020, the growth of the market failed to regain the momentum.

Phosphate Rock Production in Peru

In value terms, phosphate rock production dropped rapidly to $X in 2020 estimated in export prices. Overall, production showed a resilient increase. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2020, production stood at a somewhat lower figure.

Phosphate Rock Exports

Exports from Peru

In 2020, shipments abroad of phosphate rock increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, total exports indicated a measured increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2018 indices. The growth pace was the most rapid in 2012 when exports increased by X% against the previous year. Exports peaked at X tons in 2013; however, from 2014 to 2020, exports stood at a somewhat lower figure.

In value terms, phosphate rock exports fell dramatically to $X in 2020. In general, exports recorded a mild reduction. The pace of growth appeared the most rapid in 2012 with an increase of X% against the previous year. As a result, exports attained the peak of $X. from 2013 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for phosphate rock exports from Peru, accounting for a X% share of total exports. Moreover, phosphate rock exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), fivefold. The third position in this ranking was occupied by Indonesia (X tons), with a X% share.

From 2007 to 2020, 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: Brazil (-X% per year) and Indonesia (X% per year).

In value terms, the United States ($X) remains the key foreign market for phosphate rock exports from Peru, comprising X% of total exports. The second position in the ranking was occupied by Brazil ($X), with a X% share of total exports. It was followed by Argentina, with a X% share.

From 2007 to 2020, 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: Brazil (-X% per year) and Argentina (+X% per year).

Export Prices by Country

The average phosphate rock export price stood at $X per ton in 2020, falling by -X% against the previous year. In general, the export price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2012 when the average export price increased by X% y-o-y. As a result, export price attained the peak level of $X per ton. from 2013 to 2020, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Argentina ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia, while the prices for the other major destinations experienced a decline.

Phosphate Rock Imports

Imports into Peru

In 2020, purchases abroad of phosphate rock was finally on the rise to reach X tons for the first time since 2017, thus ending a two-year declining trend. Over the period under review, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

In value terms, phosphate rock imports surged to $X in 2020. In general, total imports indicated a strong increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Morocco (X tons) was the main supplier of phosphate rock to Peru, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from Morocco amounted to +X%.

In value terms, Morocco ($X) constituted the largest supplier of phosphate rock to Peru.

From 2007 to 2020, the average annual rate of growth in terms of value from Morocco totaled +X%.

Import Prices by Country

In 2020, the average phosphate rock import price amounted to $X per ton, falling by -X% against the previous year. In general, import price indicated a modest increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% y-o-y. Over the period under review, average import prices reached the peak figure at $X per ton in 2011; however, from 2012 to 2020, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Morocco.

From 2007 to 2020, the rate of growth in terms of prices for Morocco amounted to +X% per year.

Source: IndexBox Platform