Nitrites; Nitrates Price in Portugal - 2023

Contents:

1. Nitrites; Nitrates Price in Portugal (CIF) - 2022
2. Nitrites; Nitrates Price in Portugal (FOB) - 2022
3. Nitrites; Nitrates Imports in Portugal
4. Nitrites; Nitrates Exports in Portugal

Nitrites; Nitrates Price in Portugal (CIF) - 2022

The average nitrites; nitrates import price stood at $1,259 per ton in 2022, rising by 38% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +4.5% per year.

Nitrites; Nitrates Price in Portugal (FOB) - 2022

The average nitrites; nitrates export price stood at $974 per ton in 2022, rising by 53% against the previous year. Over the period under review, the export price posted a strong increase. Over the period under review, the average export prices attained the maximum at $1,111 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($1,463 per ton), while the average price for exports to Australia ($285 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites; Nitrates Imports in Portugal

Nitrites; nitrates imports into Portugal fell to 7.2K tons in 2022, with a decrease of -6.5% compared with 2021 figures. Overall, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 when imports increased by 13%.

In value terms, nitrites; nitrates imports surged to $9M in 2022. Over the period under review, total imports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +3.8% 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 increased by +56.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Nitrites; Nitrates to Portugal in 2022:

1. Poland (undefinedK tons)
2. Spain (6.8K tons)

Nitrites; Nitrates Exports in Portugal

In 2022, shipments abroad of nitrites; nitrateses decreased by -30.5% to 491 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 265% against the previous year. As a result, the exports attained the peak of 986 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, nitrites; nitrates exports expanded remarkably to $478K in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +25.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +98.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 91% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Nitrites; Nitrates from Portugal in 2022:

1. Angola (240.5 tons)
2. New Zealand (120.0 tons)
3. Australia (120.0 tons)
4. Spain (8.3 tons)

Source: IndexBox Market Intelligence Platform