MERCOSUR: Fertilizer Market 2024

Fertilizer Market Size in MERCOSUR

In 2023, the MERCOSUR fertilizer market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a tangible expansion. The level of consumption peaked at $X in 2022, and then fell significantly in the following year.

Fertilizer Production in MERCOSUR

In value terms, fertilizer production totaled $X in 2023 estimated in export price. In general, production recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 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.

Fertilizer Exports

Exports in MERCOSUR

In 2023, shipments abroad of fertilizers decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2022 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, fertilizer exports contracted remarkably to $X in 2023. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Chile (X tons) was the largest exporter of fertilizers, mixing up X% of total exports. Brazil (X tons) ranks second in terms of the total exports with a X% share, followed by Venezuela (X%), Argentina (X%) and Colombia (X%). Peru (X tons) and Uruguay (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to fertilizer exports from Chile stood at X%. At the same time, Colombia (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. Peru experienced a relatively flat trend pattern. By contrast, Brazil (X%), Uruguay (X%), Venezuela (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Chile (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest fertilizer supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Venezuela, with a X% share.

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

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2023, declining by X% against the previous year. Export price indicated a perceptible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, fertilizer export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced 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 Chile ($X per ton), while Argentina ($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 more modest paces of growth.

Fertilizer Imports

Imports in MERCOSUR

In 2023, after seven years of growth, there was significant decline in overseas purchases of fertilizers, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then fell markedly in the following year.

In value terms, fertilizer imports shrank sharply to $X in 2023. In general, imports, however, recorded a measured increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank sharply in the following year.

Imports by Country

Brazil dominates imports structure, reaching X tons, which was near X% of total imports in 2023. It was distantly followed by Argentina (X tons), mixing up a X% share of total imports. The following importers - Colombia (X tons), Paraguay (X tons), Peru (X tons), Chile (X tons) and Uruguay (X tons) - together made up X% of total imports.

Brazil was also the fastest-growing in terms of the fertilizers imports, with a CAGR of X% from 2012 to 2023. At the same time, Paraguay (X%), Argentina (X%), Uruguay (X%) and Colombia (X%) displayed positive paces of growth. Chile and Peru experienced a relatively flat trend pattern. From 2012 to 2023, the share of Brazil increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported fertilizers in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

In Brazil, fertilizer imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2023, the import price in MERCOSUR amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a mild reduction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then contracted rapidly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Chile ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform