Philippines: Ammonium Sulphate Market 2023

Ammonium Sulphate Market Size in the Philippines

For the third year in a row, the Philippine ammonium sulphate market recorded growth in sales value, which increased by 35% to $X in 2021. Overall, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.1% against 2017 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Ammonium Sulphate Production in the Philippines

In value terms, ammonium sulphate production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2015 with an increase of 0.9%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ammonium Sulphate Exports

Exports from the Philippines

In 2021, overseas shipments of ammonium sulphate decreased by -1.5% to X tons, falling for the eighth year in a row after two years of growth. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +10.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.3% against 2013 indices. The pace of growth was the most pronounced in 2013 when exports increased by 177%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, ammonium sulphate exports fell slightly to $X in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +11.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.8% against 2013 indices. The most prominent rate of growth was recorded in 2013 with an increase of 183% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons) was the main destination for ammonium sulphate exports from the Philippines, with a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled +20.0%.

In value terms, Vietnam ($X) also remains the key foreign market for ammonium sulphate exports from the Philippines.

From 2012 to 2021, the average annual growth rate of value to Vietnam amounted to +22.0%.

Export Prices by Country

In 2021, the average ammonium sulphate export price amounted to $X per ton, remaining stable against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 1.9% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for Vietnam amounted to +1.7% per year.

Ammonium Sulphate Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in overseas purchases of ammonium sulphate, which increased by 5.9% to X tons in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.5% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 83% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, ammonium sulphate imports skyrocketed to $X in 2021. In general, imports enjoyed modest growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ammonium sulphate to the Philippines, with a 69% share of total imports. Moreover, ammonium sulphate imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.8% per year) and Taiwan (Chinese) (+45.1% per year).

In value terms, China ($X) constituted the largest supplier of ammonium sulphate to the Philippines, comprising 70% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.1% per year) and Taiwan (Chinese) (+47.3% per year).

Import Prices by Country

The average ammonium sulphate import price stood at $X per ton in 2021, surging by 69% against the previous year. Over the period under review, the import price, however, showed a noticeable decrease. 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 South Korea ($X per ton), while the price for Taiwan (Chinese) ($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 (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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