Nitrites; Nitrates Price in Azerbaijan - 2023
Contents:
Nitrites; Nitrates Price in Azerbaijan (CIF) - 2022
The average nitrites; nitrates import price stood at $1,464 per ton in 2022, increasing by 72% against the previous year. In general, the import price showed a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($1,928 per ton), while the price for Turkey ($733 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Imports in Azerbaijan
In 2022, supplies from abroad of nitrites; nitrateses decreased by -9.8% to 5.6K tons, falling for the second consecutive year after two years of growth. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +7.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -30.3% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 77% against the previous year. As a result, imports attained the peak of 8K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, nitrites; nitrates imports skyrocketed to $8.2M in 2022. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Nitrites; Nitrates in Azerbaijan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | 951 | 1,242 | 1,338 | 2,402 | 36.2% |
| Russia | 863 | 1,497 | 1,431 | 2,089 | 34.3% |
| Israel | 562 | 1,118 | 974 | 1,732 | 45.5% |
| Jordan | 676 | 913 | 314 | 591 | -4.4% |
| Belarus | N/A | N/A | N/A | 535 | 0% |
| China | 189 | 761 | 419 | 362 | 24.2% |
| Spain | 0.1 | 49.2 | 96.7 | 294 | 1332.6% |
| Turkey | 210 | 502 | 496 | 52.0 | -37.2% |
| Poland | 309 | 213 | 71.8 | N/A | -51.8% |
| Others | 77.8 | 37.2 | 101 | 94.7 | 6.8% |
| Total | 3,839 | 6,334 | 5,241 | 8,152 | 28.5% |
Top Suppliers of Nitrites; Nitrates to Azerbaijan in 2022:
- Russia (1844.2 tons)
- Chile (1269.6 tons)
- Israel (1212.0 tons)
- Jordan (334.6 tons)
- Belarus (321.0 tons)
- Spain (257.1 tons)
- China (187.8 tons)
- Turkey (70.9 tons)
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