SADC: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in SADC

In 2023, the SADC potassium sulphate (SOP) market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a modest expansion. The level of consumption peaked at $X in 2022, and then dropped rapidly in the following year.

Potassium Sulphate (Sop) Production in SADC

In value terms, potassium sulphate (SOP) production stood at $X in 2023 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Potassium Sulphate (Sop) Exports

Exports in SADC

In 2023, overseas shipments of potassium sulphate (SOP) increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to continue growth in years to come.

In value terms, potassium sulphate (SOP) exports reduced slightly to $X in 2023. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped slightly in the following year.

Exports by Country

In 2023, Mauritius (X tons) was the key exporter of potassium sulphate (SOP), creating X% of total exports. It was distantly followed by South Africa (X tons) and Mozambique (X tons), together mixing up a X% share of total exports. Zimbabwe (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Zimbabwe (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mauritius ($X) emerged as the largest potassium sulphate (SOP) supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Mozambique, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Mauritius stood at X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Mozambique (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mauritius (X%), while the other leaders experienced a decline in the export price figures.

Potassium Sulphate (Sop) Imports

Imports in SADC

In 2023, the amount of potassium sulphate (SOP) imported in SADC fell dramatically to X tons, shrinking by X% on 2022. Total imports indicated a pronounced expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports contracted remarkably to $X in 2023. In general, imports, however, saw a perceptible expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then declined markedly in the following year.

Imports by Country

South Africa (X tons) and Zimbabwe (X tons) represented the major importers of potassium sulphate (SOP) in 2023, reaching near X% and X% of total imports, respectively. Zambia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mozambique (X%). Malawi (X tons) held a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Zambia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Zimbabwe ($X), South Africa ($X) and Zambia ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Zambia, with a CAGR of X%, saw 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

The import price in SADC stood at $X per ton in 2023, falling by X% against the previous year. Import price indicated mild growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, potassium sulphate (SOP) import price increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Zimbabwe ($X per ton) and Zambia ($X per ton), while South Africa ($X per ton) and Malawi ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Zimbabwe (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform