Venezuela: Nitrogenous Fertilizer Market 2022

Nitrogenous Fertilizer Market Size in Venezuela

After four years of growth, the Venezuelan nitrogenous fertilizer market decreased by -X% to $X in 2021. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Nitrogenous Fertilizer Production in Venezuela

In value terms, nitrogenous fertilizer production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Nitrogenous Fertilizer Exports

Exports from Venezuela

In 2021, shipments abroad of nitrogenous fertilizers (mineral or chemical) increased by X% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, faced a abrupt contraction. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, nitrogenous fertilizer exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for nitrogenous fertilizer exports from Venezuela, with a X% share of total exports. Moreover, nitrogenous fertilizer exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), twofold. The third position in this ranking was held by Colombia (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms 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 Colombia (-X% per year).

In value terms, the largest markets for nitrogenous fertilizer exported from Venezuela were the United States ($X), Brazil ($X) and Colombia ($X), with a combined X% share of total exports. These countries were followed by Mexico, Chile, Germany, Canada, Peru, Turkey and Uruguay, which together accounted for a further X terms of the main countries of destination, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average nitrogenous fertilizer export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to Uruguay ($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 Mexico (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Nitrogenous Fertilizer Imports

Imports into Venezuela

In 2021, after three years of growth, there was significant decline in overseas purchases of nitrogenous fertilizers (mineral or chemical), when their volume decreased by -X% to X tons. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, nitrogenous fertilizer imports reduced to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia (X tons), Brazil (X tons) and the United States (X tons) were the main suppliers of nitrogenous fertilizer imports to Venezuela.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X), the United States ($X) and Brazil ($X) were the largest nitrogenous fertilizer suppliers to Venezuela, together accounting for X% of total imports.

The United States, with a CAGR of +X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average nitrogenous fertilizer import price amounted to $X per ton, almost unchanged from the previous year. In general, the import price recorded a pronounced downturn. The growth pace was the most rapid in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform