MERCOSUR: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in MERCOSUR

In 2023, after seven years of growth, there was significant decline in the MERCOSUR nitrogenous fertilizer market, when its value decreased by X% to $X. The total consumption indicated a perceptible expansion from 2012 to 2023: its value 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. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced rapidly in the following year.

Nitrogenous Fertilizer Production in MERCOSUR

In value terms, nitrogenous fertilizer production expanded significantly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Nitrogenous Fertilizer Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of nitrogenous fertilizers (mineral or chemical) decreased by X% to X tons in 2023. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, nitrogenous fertilizer exports shrank significantly to $X in 2023. Over the period under review, exports saw a deep slump. The pace of growth was the most pronounced in 2022 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Venezuela (X tons) represented the major exporter of nitrogenous fertilizers (mineral or chemical), achieving X% of total exports. Chile (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (X%) and Brazil (X%). The following exporters - Guyana (X tons) and Peru (X tons) - each finished at a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Guyana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrogenous fertilizer supplying countries in MERCOSUR were Venezuela ($X), Chile ($X) and Brazil ($X), with a combined X% share of total exports. Colombia, Guyana and Peru lagged somewhat behind, together comprising a further X%.

Guyana, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the export price, however, saw a slight expansion. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped dramatically in the following year.

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 Guyana ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guyana (X%), while the other leaders experienced more modest paces of growth.

Nitrogenous Fertilizer Imports

Imports in MERCOSUR

In 2023, nitrogenous fertilizer imports in MERCOSUR reached X tons, growing by X% on the previous year's figure. Total imports indicated prominent growth 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 growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports contracted notably to $X in 2023. Over the period under review, imports recorded a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then fell notably in the following year.

Imports by Country

Brazil dominates imports structure, reaching X tons, which was near X% of total imports in 2023. Argentina (X tons) ranks second in terms of the total imports with a X% share, followed by Peru (X%). Colombia (X tons), Chile (X tons), Uruguay (X tons) and Ecuador (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the nitrogenous fertilizers (mineral or chemical) imports, with a CAGR of X% from 2012 to 2023. At the same time, Argentina (X%), Uruguay (X%) and Colombia (X%) displayed positive paces of growth. Chile and Ecuador experienced a relatively flat trend pattern. By contrast, Peru (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Brazil increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported nitrogenous fertilizers (mineral or chemical) in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with an X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Brazil totaled X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Peru (X% per year).

Import Prices by Country

In 2023, the import price in MERCOSUR amounted to $X per ton, waning by X% against the previous year. In general, the import price showed a mild reduction. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then dropped dramatically in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Chile ($X per ton) and Peru ($X per ton), while Brazil ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform