Nitrites; Nitrates Price in Greece - 2023
Contents:
- Nitrites; Nitrates Price in Greece (CIF) - 2022
- Nitrites; Nitrates Price in Greece (FOB) - 2023
- Nitrites; Nitrates Imports in Greece
- Nitrites; Nitrates Exports in Greece
Nitrites; Nitrates Price in Greece (CIF) - 2022
The average nitrites; nitrates import price stood at $1,091 per ton in 2022, jumping by 40% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($1,547 per ton), while the price for Russia ($438 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Price in Greece (FOB) - 2023
In August 2023, the average nitrites; nitrates export price amounted to $1,075 per ton, waning by -2.8% against the previous month. Overall, the export price recorded a slight curtailment. The pace of growth was the most pronounced in November 2022 an increase of 17% m-o-m. The export price peaked at $1,552 per ton in December 2022; however, from January 2023 to August 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was North Macedonia ($1,219 per ton), while the average price for exports to Turkey ($477 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+0.1%), while the prices for the other major destinations experienced mixed trend patterns.
Nitrites; Nitrates Imports in Greece
Nitrites; nitrates imports into Greece fell rapidly to 20K tons in 2022, which is down by -21.9% against 2021 figures. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 14% against the previous year.
In value terms, nitrites; nitrates imports amounted to $22M in 2022. The total import value increased at an average annual rate of +1.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.
| Import of Nitrites; Nitrates in Greece (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Israel | 9.6 | 4.1 | 8.8 | 10.0 | 1.4% |
| Netherlands | 1.7 | 1.2 | 2.4 | 3.6 | 28.4% |
| Jordan | 1.5 | 2.8 | 2.5 | 3.4 | 31.4% |
| Belgium | 1.8 | 1.4 | 2.2 | 1.7 | -1.9% |
| Poland | 0.2 | 0.1 | 0.4 | 1.4 | 91.3% |
| France | 0.6 | 0.4 | 0.7 | 0.3 | -20.6% |
| China | 2.2 | 1.6 | 0.6 | 0.2 | -55.0% |
| Russia | 1.2 | 0.2 | 0.2 | 0.2 | -45.0% |
| Denmark | 1.5 | 3.4 | N/A | N/A | 126.7% |
| Others | 0.6 | 0.7 | 2.0 | 0.8 | 10.1% |
| Total | 20.8 | 15.8 | 19.8 | 21.6 | 1.3% |
Top Suppliers of Nitrites; Nitrates to Greece in 2022:
- Israel (9.6K tons)
- Jordan (2.6K tons)
- Netherlands (2.3K tons)
- Poland (2.3K tons)
- Belgium (1.2K tons)
- Russia (0.4K tons)
- France (0.3K tons)
- China (0.3K tons)
Nitrites; Nitrates Exports in Greece
In 2022, nitrites; nitrates exports from Greece fell markedly to 3.8K tons, with a decrease of -22.1% compared with the previous year. In general, exports recorded a precipitous slump. The smallest decline of -4.4% was in 2021.
In value terms, nitrites; nitrates exports stood at $4.8M in 2022. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 11%.
| Export of Nitrites; Nitrates in Greece (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hungary | 1,264 | 1,914 | 1,707 | 2,444 | 24.6% |
| Romania | 659 | 747 | 520 | 1,010 | 15.3% |
| Croatia | 128 | 145 | 439 | 455 | 52.6% |
| Cyprus | 405 | 210 | 345 | 241 | -15.9% |
| Bulgaria | 832 | 499 | 585 | 216 | -36.2% |
| Slovenia | 41.6 | 62.4 | 102 | 93.2 | 30.9% |
| Serbia | 3,022 | 351 | 710 | 26.6 | -79.4% |
| Others | 144 | 218 | 214 | 323 | 30.9% |
| Total | 6,494 | 4,148 | 4,621 | 4,809 | -9.5% |
Top Export Markets for Nitrites; Nitrates from Greece in 2022:
- Hungary (1785.6 tons)
- Romania (988.4 tons)
- Croatia (314.4 tons)
- Cyprus (192.4 tons)
- Bulgaria (165.9 tons)
- Slovenia (70.8 tons)
- Serbia (24.0 tons)
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