Latin America and the Caribbean: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Latin America and the Caribbean

After two years of growth, the Latin American potassium chloride (MOP) market decreased by X% to $X in 2023. Over the period under review, consumption, however, enjoyed a notable expansion. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Potassium Chloride (Mop) Production in Latin America and the Caribbean

In value terms, potassium chloride (MOP) production dropped to $X in 2023 estimated in export price. In general, production recorded a pronounced reduction. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Potassium Chloride (Mop) Exports

Exports in Latin America and the Caribbean

In 2023, overseas shipments of potassium chloride (MOP) decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, potassium chloride (MOP) exports fell rapidly to $X in 2023. Over the period under review, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Chile was the major exporting country with an export of about X tons, which finished at X% of total exports. Bolivia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (X%). Honduras (X tons) took a relatively small share of total exports.

Exports from Chile decreased at an average annual rate of X% from 2012 to 2023. At the same time, Bolivia (X%), Honduras (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. While the share of Bolivia (X p.p.), Brazil (X p.p.) and Honduras (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Chile (X p.p.) displayed negative dynamics.

In value terms, Chile ($X) remains the largest potassium chloride (MOP) supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Bolivia ($X), with an X% share of total exports. It was followed by Brazil, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Chile stood at X%. In the other countries, the average annual rates were as follows: Bolivia (X% per year) and Brazil (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then contracted remarkably 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 Brazil ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced a decline in the export price figures.

Potassium Chloride (Mop) Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of potassium chloride (MOP) decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then fell notably in the following year.

In value terms, potassium chloride (MOP) imports declined markedly to $X in 2023. Overall, imports, however, saw tangible growth. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then fell significantly in the following year.

Imports by Country

Brazil prevails in imports structure, reaching X tons, which was near X% of total imports in 2023. The following importers - Paraguay (X tons) and Colombia (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to potassium chloride (MOP) imports into Brazil stood at X%. At the same time, Paraguay (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Colombia experienced a relatively flat trend pattern. While the share of Brazil (X p.p.) and Paraguay (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Colombia (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X) constitutes the largest market for imported potassium chloride (MOP) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Paraguay ($X), with a X% share of total imports.

In Brazil, potassium chloride (MOP) imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Paraguay (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, stabilizing at the previous year. Overall, the import price recorded a slight decline. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Paraguay ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform