Latin America and the Caribbean: Phosphatic Fertilizer Market 2024

Phosphatic Fertilizer Market Size in Latin America and the Caribbean

The Latin American phosphatic fertilizer market contracted rapidly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, recorded a notable expansion. The level of consumption peaked at $X in 2021, and then shrank dramatically in the following year.

Phosphatic Fertilizer Production in Latin America and the Caribbean

In value terms, phosphatic fertilizer production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Phosphatic Fertilizer Exports

Exports in Latin America and the Caribbean

In 2022, exports of phosphatic fertilizers in Latin America and the Caribbean shrank to X tons, with a decrease of X% against the previous year's figure. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, phosphatic fertilizer exports soared to $X in 2022. In general, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina represented the largest exporting country with an export of around X tons, which amounted to X% of total exports. Mexico (X tons) held the second position in the ranking, followed by Uruguay (X tons) and Brazil (X tons). All these countries together took near X% share of total exports. Colombia (X tons) held a minor share of total exports.

Argentina was also the fastest-growing in terms of the phosphatic fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Uruguay (X%) displayed positive paces of growth. By contrast, Colombia (X%), Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina and Uruguay increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest phosphatic fertilizer supplying countries in Latin America and the Caribbean were Argentina ($X), Mexico ($X) and Uruguay ($X), together accounting for X% of total exports.

Argentina, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price enjoyed a pronounced increase. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Phosphatic Fertilizer Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of phosphatic fertilizers were imported in Latin America and the Caribbean; waning by X% against the previous year. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, phosphatic fertilizer imports skyrocketed to $X in 2022. In general, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Brazil prevails in imports structure, finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Paraguay (X tons), mixing up a X% share of total imports. Uruguay (X tons), Chile (X tons) and Argentina (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to phosphatic fertilizer imports into Brazil stood at X%. At the same time, Paraguay (X%) and Uruguay (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 2012-2022. By contrast, Chile (X%) and Argentina (X%) illustrated a downward trend over the same period. Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Chile and Argentina saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Brazil totaled X%. In the other countries, the average annual rates were as follows: Paraguay (X% per year) and Uruguay (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price enjoyed tangible growth. 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 destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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