Philippines - Potassium Sulphate (SOP) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPotassium Sulphate (SOP) Price in the Philippines - 2023
Contents:
- Potassium Sulphate (SOP) Price in the Philippines (FOB) - 2023
- Potassium Sulphate (SOP) Price in the Philippines (CIF) - 2022
- Potassium Sulphate (SOP) Exports in the Philippines
- Potassium Sulphate (SOP) Imports in the Philippines
Potassium Sulphate (SOP) Price in the Philippines (FOB) - 2023
In June 2023, the average potassium sulphate (SOP) export price amounted to $729 per ton, declining by -2% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 7% m-o-m. The export price peaked at $897 per ton in December 2022; however, from January 2023 to June 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In June 2023, the highest price was recorded for prices to Malaysia ($860 per ton) and Thailand ($855 per ton), while the average price for exports to Vietnam ($655 per ton) and Indonesia ($810 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.
Potassium Sulphate (SOP) Price in the Philippines (CIF) - 2022
The average potassium sulphate (SOP) import price stood at $863 per ton in 2022, surging by 48% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 1,148%. As a result, import price attained the peak level of $12,841 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1,015 per ton), while the price for India ($740 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Potassium Sulphate (SOP) Exports in the Philippines
For the third year in a row, the Philippines recorded decline in overseas shipments of potassium sulphate (SOP), which decreased by -18.7% to 3.7K tons in 2022. Overall, exports faced a precipitous decline.
In value terms, potassium sulphate (SOP) exports skyrocketed to $3M in 2022. Over the period under review, exports saw a abrupt decrease.
| Export of Potassium Sulphate (SOP) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 818 | 765 | 653 | 1,242 | 14.9% |
| Thailand | 578 | 205 | 508 | 656 | 4.3% |
| Malaysia | 270 | 184 | 234 | 364 | 10.5% |
| Vietnam | 1,166 | 717 | 277 | 285 | -37.5% |
| Indonesia | 250 | 101 | 69.4 | 277 | 3.5% |
| Japan | 484 | 395 | 390 | 142 | -33.6% |
| Peru | 506 | 190 | N/A | N/A | -62.5% |
| India | 1,204 | 68.4 | 65.4 | N/A | -76.7% |
| Others | 156 | N/A | 26.1 | N/A | -59.1% |
| Total | 5,431 | 2,624 | 2,223 | 2,965 | -18.3% |
Top Export Markets for Potassium Sulphate (SOP) from the Philippines in 2022:
- Australia (1596.3 tons)
- Thailand (846.6 tons)
- Malaysia (440.6 tons)
- Vietnam (357.2 tons)
- Indonesia (331.2 tons)
- Japan (160.0 tons)
Potassium Sulphate (SOP) Imports in the Philippines
In 2022, supplies from abroad of potassium sulphate (SOP) decreased by -87% to 338 tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a sharp decrease. The growth pace was the most rapid in 2020 with an increase of 207% against the previous year. As a result, imports reached the peak of 3.7K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, potassium sulphate (SOP) imports shrank dramatically to $292K in 2022. In general, imports saw a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 142% against the previous year. As a result, imports reached the peak of $1.6M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Potassium Sulphate (SOP) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 11.0 | N/A | 1,022 | 173 | 150.5% |
| India | N/A | 0.3 | 0.9 | 71.0 | 1438.4% |
| China | 535 | 119 | 47.2 | 42.6 | -57.0% |
| Taiwan (Chinese) | 64.6 | 1,416 | 447 | N/A | 163.0% |
| Others | 34.8 | 24.9 | 2.0 | 5.5 | -45.9% |
| Total | 645 | 1,560 | 1,519 | 292 | -23.2% |
Top Suppliers of Potassium Sulphate (SOP) to the Philippines in 2022:
- Vietnam (200.0 tons)
- India (96.0 tons)
- China (42.0 tons)
This report provides an in-depth analysis of the potassium sulphate (sop) market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 4017 - Potassium sulphate (sulphate of potash) (SOP)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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