Latin America and the Caribbean: Phosphate Rock Market 2022

Phosphate Rock Market Size in Latin America and the Caribbean

The Latin American phosphate rock market rose notably to $X in 2020, with an increase of X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. Over the period under review, the market reached the peak level in 2020 and is expected to retain growth in years to come.

Phosphate Rock Production in Latin America and the Caribbean

In value terms, phosphate rock production amounted to $X in 2020 estimated in export prices. Over the period under review, production posted resilient growth. The pace of growth was the most pronounced in 2008 when the production volume increased by X% y-o-y. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2020, production failed to regain the momentum.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of phosphate rock production in 2020 were Peru (X tons), Brazil (X tons) and Mexico (X tons), with a combined X% share of total production.

From 2007 to 2020, the biggest increases were in Mexico, while phosphate rock production for the other leaders experienced more modest paces of growth.

Phosphate Rock Exports

Exports in Latin America and the Caribbean

In 2020, shipments abroad of phosphate rock increased by X% to X tons, rising for the second year in a row after three years of decline. Total exports indicated a perceptible expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2018 indices. The pace of growth appeared the most rapid in 2012 when exports increased by X% year-to-year. The volume of export peaked at X tons in 2013; however, from 2014 to 2020, exports remained at a lower figure.

In value terms, phosphate rock exports shrank dramatically to $X in 2020. Overall, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. As a result, exports attained the peak of $X. from 2013 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Peru (X tons) represented roughly X% of total exports of phosphate rock in 2020.

Peru was also the fastest-growing in terms of the phosphate rock exports, with a CAGR of +X% from 2007 to 2020. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) also remains the largest phosphate rock supplier in Latin America and the Caribbean.

In Peru, phosphate rock exports declined by an average annual rate of -X% over the period from 2007-2020.

Export Prices by Country

In 2020, the phosphate rock export price in Latin America and the Caribbean amounted to $X per ton, declining by -X% against the previous year. In general, the export price continues to indicate a perceptible setback. The growth pace was the most rapid in 2012 an increase of X% y-o-y. As a result, export price reached the peak level of $X per ton. from 2013 to 2020, the growth in terms of the export prices failed to regain the momentum.

As there is only one major export destination, the average price level is determined by prices for Peru.

From 2007 to 2020, the rate of growth in terms of prices for Peru amounted to -X% per year.

Phosphate Rock Imports

Imports in Latin America and the Caribbean

In 2020, after three years of growth, there was significant decline in purchases abroad of phosphate rock, when their volume decreased by -X% to X tons. Total imports indicated a moderate expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. The volume of import peaked at X tons in 2019, and then reduced in the following year.

In value terms, phosphate rock imports declined modestly to $X in 2020. Total imports indicated a temperate expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2008 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons) and Brazil (X tons) dominates phosphate rock imports structure, together creating X% of total imports. It was distantly followed by Argentina (X tons), generating a X% share of total imports. The following importers - Peru (X tons), Venezuela (X tons) and Uruguay (X tons) - together made up X% of total imports.

From 2007 to 2020, the biggest increases were in Mexico, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phosphate rock importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Venezuela ($X), with a combined X% share of total imports.

Venezuela saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the phosphate rock import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when the import price increased by X% y-o-y. The level of import peaked at $X per ton in 2012; however, from 2013 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Venezuela ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Venezuela, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform