Nitrites; Nitrates Price in Hungary - 2023

Nitrites; Nitrates Price in Hungary (CIF) - 2022

The average nitrites; nitrates import price stood at $1,188 per ton in 2022, rising by 8.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 19% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($1,724 per ton), while the price for Poland ($565 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+32.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Nitrites; Nitrates Price in Hungary (FOB) - 2022

The average nitrites; nitrates export price stood at $1,642 per ton in 2022, jumping by 108% against the previous year. Over the period under review, the export price recorded a prominent increase. The pace of growth was the most pronounced in 2013 an increase of 142% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($2,214 per ton), while the average price for exports to Austria ($192 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites; Nitrates Imports in Hungary

Nitrites; nitrates imports into Hungary skyrocketed to 5.5K tons in 2022, increasing by 23% compared with the year before. Over the period under review, imports saw a relatively flat trend pattern.

In value terms, nitrites; nitrates imports surged to $6.6M in 2022. The total import value increased at an average annual rate of +7.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Nitrites; Nitrates in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Greece	1,227	1,808	1,096	2,444	25.8%
Germany	1,072	1,226	879	1,433	10.2%
Poland	613	700	342	792	8.9%
Netherlands	95.5	1,134	2,016	786	101.9%
Belgium	645	31.0	163	377	-16.4%
Austria	6.1	2.6	2.0	185	211.9%
Ireland	103	71.7	60.2	130	8.1%
Italy	120	71.2	39.9	91.1	-8.8%
Russia	174	33.3	64.6	N/A	-39.1%
Sweden	966	615	N/A	N/A	-36.3%
Others	267	220	255	315	5.7%
Total	5,289	5,912	4,917	6,552	7.4%

Top Suppliers of Nitrites; Nitrates to Hungary in 2022:

Greece (1785.6 tons)
Poland (1401.8 tons)
Germany (831.3 tons)
Netherlands (604.8 tons)
Belgium (368.7 tons)
Austria (137.4 tons)
Italy (127.6 tons)
Ireland (85.3 tons)

Nitrites; Nitrates Exports in Hungary

In 2022, shipments abroad of nitrites; nitrateses increased by 6.5% to 552 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a precipitous contraction.

In value terms, nitrites; nitrates exports surged to $906K in 2022. Overall, exports, however, continue to indicate a abrupt contraction.

Export of Nitrites; Nitrates in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
North Macedonia	247	126	89.4	305	7.3%
Slovakia	4.0	19.8	11.3	188	260.9%
Romania	473	150	77.1	146	-32.4%
Poland	282	212	113	104	-28.3%
Serbia	12.9	N/A	N/A	80.0	83.7%
Bulgaria	18.4	57.1	32.9	61.7	49.7%
Austria	195	134	55.8	8.3	-65.1%
Croatia	160	50.8	17.7	3.1	-73.1%
Others	118	34.2	12.2	9.9	-56.2%
Total	1,509	784	409	906	-15.6%