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Mexico - NPK Fertilizers - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMexico Sees a Significant Decline in NPK Fertilizer Imports, Falling to $56M in 2023
Mexico NPK Fertilizer Imports
For the third consecutive year, Mexico recorded decline in purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, which decreased by -13.7% to 125K tons in 2023. Overall, imports saw a perceptible reduction. The pace of growth appeared the most rapid in 2015 when imports increased by 117% against the previous year. Over the period under review, imports reached the maximum at 184K tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.
In value terms, NPK fertilizer imports shrank rapidly to $56M (IndexBox estimates) in 2023. In general, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 156%. Imports peaked at $109M in 2022, and then reduced rapidly in the following year.
COUNTRY | Import Value of NPK Fertilizer in Mexico (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Russia | 38.1 | 7.3 | 15.0 | 24.6 | 25.4 | 44.7 | 28.2 | 51.7 | 54.6 | 85.8 | 36.2 |
United States | 3.4 | 5.5 | 4.8 | 3.6 | 3.4 | 3.3 | 6.2 | 4.9 | 5.8 | 7.2 | 12.0 |
China | 0.2 | 0.7 | 2.9 | 0.3 | 0.3 | 1.0 | 2.3 | 5.3 | 12.2 | 5.4 | 5.9 |
Spain | 0.2 | 0.2 | 0.5 | 0.3 | 1.8 | 0.9 | 0.2 | 0.4 | 0.5 | 0.9 | 2.1 |
Israel | 15.1 | N/A | 15.9 | N/A | 6.9 | 15.9 | 0.4 | 4.6 | N/A | 6.3 | N/A |
Germany | N/A | N/A | N/A | N/A | N/A | 9.4 | 8.7 | 11.5 | N/A | 3.9 | N/A |
Belgium | 11.2 | 6.2 | 16.0 | N/A | N/A | N/A | 14.7 | 17.6 | N/A | N/A | N/A |
Norway | 13.6 | 0.4 | 11.0 | 13.9 | 17.4 | N/A | 9.7 | N/A | N/A | N/A | N/A |
Others | 8.1 | 5.5 | N/A | 0.1 | 0.3 | 4.7 | 1.9 | 0.3 | 0.8 | N/A | N/A |
Total | 89.8 | 25.8 | 66.0 | 43.0 | 55.5 | 79.9 | 72.2 | 96.4 | 74.0 | 109 | 56.2 |
Imports by Country
In 2023, Russia (107K tons) constituted the largest supplier of NPK fertilizer to Mexico, accounting for a 85% share of total imports. Moreover, NPK fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, China (9.5K tons), more than tenfold. the United States (7.2K tons) ranked third in terms of total imports with a 5.8% share.
From 2013 to 2023, the average annual growth rate of volume from Russia amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+43.9% per year) and the United States (+10.6% per year).
In value terms, Russia ($36M) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Mexico, comprising 64% of total imports. The second position in the ranking was taken by the United States ($12M), with a 21% share of total imports. It was followed by China, with a 10% share.
From 2013 to 2023, the average annual rate of growth in terms of value from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.5% per year) and China (+38.6% per year).
Import Prices by Country
In 2023, the npk fertilizer price stood at $450 per ton (CIF, Mexico), which is down by -40.5% against the previous year. In general, the import price continues to indicate a mild downturn. The growth pace was the most rapid in 2022 when the average import price increased by 72%. As a result, import price attained the peak level of $756 per ton, and then reduced markedly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($1,669 per ton), while the price for Russia ($339 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Israel (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the npk fertilizer market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 4021 - NPK fertilizers
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023