Philippines: Fertilizer Market 2022

Fertilizer Market Size in the Philippines

The Philippine fertilizer market reduced to $X in 2021, with a decrease of -5.9% against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced in the following year.

Fertilizer Production in the Philippines

In value terms, fertilizer production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 25% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Fertilizer Exports

Exports from the Philippines

In 2021, approx. X tons of fertilizers were exported from the Philippines; rising by 69% on 2020. In general, exports recorded a tangible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer exports soared to $X in 2021. Over the period under review, exports showed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons), Vietnam (X tons) and Tanzania (X tons) were the main destinations of fertilizer exports from the Philippines, together comprising 93% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tanzania (with a CAGR of +454.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fertilizer exported from the Philippines were Malaysia ($X), Tanzania ($X) and Vietnam ($X), together comprising 92% of total exports.

Among the main countries of destination, Tanzania, with a CAGR of +300.9%, saw the highest growth rate of 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, declining by -10.5% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 8.3%. The export price peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was Tanzania ($X per ton), while the average price for exports to Malaysia ($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 Belize (+36.3%), while the prices for the other major destinations experienced mixed trend patterns.

Fertilizer Imports

Imports into the Philippines

In 2021, supplies from abroad of fertilizers decreased by -16.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its volume 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. The most prominent rate of growth was recorded in 2014 with an increase of 28%. Over the period under review, imports hit record highs at X tons in 2020, and then fell markedly in the following year.

In value terms, fertilizer imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of fertilizer to the Philippines, with a 42% share of total imports. Moreover, fertilizer imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+12.6% per year) and Malaysia (+8.4% per year).

In value terms, China ($X) constituted the largest supplier of fertilizer to the Philippines, comprising 41% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total imports. It was followed by Malaysia, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+13.1% per year) and Malaysia (+8.5% per year).

Import Prices by Country

In 2021, the average fertilizer import price amounted to $X per ton, growing by 28% against the previous year. In general, the import price, however, recorded a mild slump. Over the period under review, average import prices hit record highs 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, the country with the highest price was Qatar ($X per ton), while the price for Japan ($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 (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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