Nitrites; Nitrates Price in Argentina - 2023

Nitrites; Nitrates Price in Argentina (CIF) - 2022

In 2022, the average nitrites; nitrates import price amounted to $870 per ton, rising by 2.4% against the previous year. In general, the import price, however, saw a slight reduction. The growth pace was the most rapid in 2015 when the average import price increased by 12%. As a result, import price attained the peak level of $1,024 per ton. From 2016 to 2022, the average import prices remained at a lower figure.

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 Belgium ($2,595 per ton), while the price for Chile ($777 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Nitrites; Nitrates Price in Argentina (FOB) - 2022

The average nitrites; nitrates export price stood at $2,102 per ton in 2022, dropping by -4.9% against the previous year. Over the period under review, the export price continues to indicate a mild setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 320%. Over the period under review, the average export prices attained the maximum at $10,900 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat 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 Paraguay ($20,103 per ton), while the average price for exports to Nicaragua stood at $1,437 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+43.1%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites; Nitrates Imports in Argentina

For the fourth year in a row, Argentina recorded growth in purchases abroad of nitrites; nitrateses, which increased by 19% to 27K tons in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +12.6% 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 +42.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitrites; nitrates imports soared to $23M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 22%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Import of Nitrites; Nitrates in Argentina (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Chile	12.9	12.6	15.8	18.8	13.4%
Belgium	1.1	1.3	1.7	1.6	13.3%
Israel	0.6	0.5	0.6	1.3	29.4%
China	0.6	0.6	0.3	0.5	-5.9%
Others	0.9	0.7	0.6	1.2	10.1%
Total	16.1	15.6	19.1	23.3	13.1%

Top Suppliers of Nitrites; Nitrates to Argentina in 2022:

Chile (24.2K tons)
Israel (0.9K tons)
Belgium (0.6K tons)
China (0.4K tons)

Nitrites; Nitrates Exports in Argentina

In 2022, the amount of nitrites; nitrateses exported from Argentina fell rapidly to 5.8 tons, shrinking by -22.9% against the previous year's figure. Over the period under review, exports recorded a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 531% against the previous year.

In value terms, nitrites; nitrates exports reduced markedly to $12K in 2022. Overall, exports showed a pronounced decrease. The pace of growth was the most pronounced in 2021 with an increase of 114% against the previous year. As a result, the exports attained the peak of $17K, and then declined dramatically in the following year.

Export of Nitrites; Nitrates in Argentina (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Nicaragua	3.6	N/A	N/A	8.2	31.6%
Paraguay	2.3	0.1	0.5	0.6	-36.1%
New Zealand	N/A	1.7	N/A	N/A	0%
Chile	N/A	N/A	10.3	N/A	0%
Zambia	N/A	N/A	1.4	N/A	0%
Others	7.1	5.9	4.5	3.4	-21.8%
Total	13.0	7.7	16.6	12.2	-2.1%