Singapore: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Singapore

In 2023, after three years of growth, there was significant decline in the Singaporean potassium chloride (MOP) market, when its value decreased by X% to $X. In general, consumption showed a noticeable curtailment. Potassium chloride (MOP) consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Potassium Chloride (Mop) Production in Singapore

In value terms, potassium chloride (MOP) production dropped to $X in 2023 estimated in export price. In general, production continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Potassium chloride (MOP) production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

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Potassium Chloride (Mop) Exports

Exports from Singapore

Potassium chloride (MOP) exports from Singapore dropped significantly to X tons in 2023, with a decrease of X% against the year before. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, potassium chloride (MOP) exports contracted notably to $X in 2023. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of potassium chloride (MOP) exports from Singapore, together accounting for X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Australia ($X) remains the key foreign market for potassium chloride (MOP) exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the average potassium chloride (MOP) export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a perceptible downturn. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (X%), while the prices for the other major destinations experienced mixed trend patterns.

Potassium Chloride (Mop) Imports

Imports into Singapore

In 2023, the amount of potassium chloride (MOP) imported into Singapore declined significantly to X tons, falling by X% on 2022. Over the period under review, imports faced a deep contraction. The pace of growth appeared the most rapid in 2022 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, potassium chloride (MOP) imports shrank sharply to $X in 2023. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Israel (X tons) constituted the largest potassium chloride (MOP) supplier to Singapore, accounting for a X% share of total imports. Moreover, potassium chloride (MOP) imports from Israel exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), sixfold.

From 2012 to 2023, the average annual growth rate of volume from Israel totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Germany (X% per year).

In value terms, the Czech Republic ($X), Israel ($X) and Germany ($X) were the largest potassium chloride (MOP) suppliers to Singapore, with a combined X% share of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average potassium chloride (MOP) import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform