Nitrites; Nitrates Price in Australia - 2023
Contents:
- Nitrites; Nitrates Price in Australia (CIF) - 2022
- Nitrites; Nitrates Price in Australia (FOB) - 2022
- Nitrites; Nitrates Imports in Australia
- Nitrites; Nitrates Exports in Australia
Nitrites; Nitrates Price in Australia (CIF) - 2022
The average nitrites; nitrates import price stood at $959 per ton in 2022, picking up by 60% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrites; nitrates import price increased by +78.1% against 2019 indices. 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 Belgium ($1,699 per ton), while the price for Hong Kong SAR ($345 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Nitrites; Nitrates Price in Australia (FOB) - 2022
In 2022, the average nitrites; nitrates export price amounted to $1,641 per ton, growing by 24% against the previous year. Overall, the export price, however, recorded a perceptible contraction. Over the period under review, the average export prices hit record highs at $2,283 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were New Zealand ($1,873 per ton) and Chile ($1,808 per ton), while the average price for exports to Indonesia ($1,629 per ton) and Papua New Guinea ($1,631 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.
Nitrites; Nitrates Imports in Australia
In 2022, overseas purchases of nitrites; nitrateses decreased by -3.8% to 61K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +6.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 41% against the previous year. As a result, imports attained the peak of 71K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, nitrites; nitrates imports surged to $59M in 2022. Over the period under review, imports, however, continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Nitrites; Nitrates in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.9 | 15.4 | 14.1 | 21.9 | 22.5% |
| Chile | N/A | 3.5 | 5.0 | 7.0 | 41.4% |
| Russia | 0.3 | 1.6 | 1.6 | 5.6 | 165.3% |
| Belgium | 3.8 | 5.6 | 5.6 | 5.4 | 12.4% |
| Jordan | 4.8 | 7.8 | 6.5 | 4.0 | -5.9% |
| Malaysia | N/A | N/A | 0.3 | 3.5 | 1066.7% |
| Portugal | 1.2 | 1.0 | 0.5 | 1.5 | 7.7% |
| Hong Kong SAR | N/A | N/A | 0.1 | 1.2 | 1100.0% |
| Norway | 2.1 | 0.6 | 0.5 | 0.6 | -34.1% |
| Others | 2.9 | 3.4 | 3.8 | 8.1 | 40.8% |
| Total | 27.2 | 38.9 | 38.1 | 58.6 | 29.2% |
Top Suppliers of Nitrites; Nitrates to Australia in 2022:
- China (24.0K tons)
- Russia (6.9K tons)
- Chile (5.3K tons)
- Malaysia (4.1K tons)
- Hong Kong SAR (3.3K tons)
- Belgium (3.2K tons)
- Jordan (3.1K tons)
- Portugal (2.7K tons)
- Norway (1.3K tons)
Nitrites; Nitrates Exports in Australia
In 2022, the amount of nitrites; nitrateses exported from Australia dropped dramatically to 1.9K tons, with a decrease of -67.9% compared with the previous year's figure. Over the period under review, exports faced a significant decrease. The growth pace was the most rapid in 2021 with an increase of 4.4% against the previous year.
In value terms, nitrites; nitrates exports fell rapidly to $3.1M in 2022. Overall, exports recorded a sharp contraction. The growth pace was the most rapid in 2021 when exports increased by 3.8% against the previous year. As a result, the exports reached the peak of $7.8M, and then declined markedly in the following year.
| Export of Nitrites; Nitrates in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 2.9 | 1.1 | 1.8 | 2.6 | -3.6% |
| Papua New Guinea | 0.1 | N/A | N/A | 0.2 | 26.0% |
| New Zealand | N/A | N/A | N/A | 0.2 | 0% |
| Chile | N/A | N/A | N/A | 0.1 | 0% |
| Egypt | 4.4 | 6.2 | 5.9 | N/A | 15.8% |
| Others | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| Total | 7.5 | 7.5 | 7.8 | 3.1 | -25.5% |
Top Export Markets for Nitrites; Nitrates from Australia in 2022:
- Indonesia (1600.4 tons)
- Papua New Guinea (125.7 tons)
- New Zealand (88.6 tons)
- Chile (42.5 tons)
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In May 2023, the Nitrates price in Australia (CIF) dropped by -25.1% to $407 per ton compared to the previous month.
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Imports of Potassium Nitrate reached a peak of 32K tons in 2020, but remained lower from 2021 to 2023. In terms of value, imports decreased significantly to $12M in 2023.
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From July 2023 to December 2023, imports of Potassium Nitrate saw modest growth, reaching $1.6M in value in December 2023.
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In April 2023, the potassium nitrate price amounted to $1,365 per ton (CIF, Australia), picking up by 9.2% against the previous month.
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The Nitrites imports peaked at 2.1K tons in 2022 but decreased to $2.2M in 2023.
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In value terms, nitrites and nitrates exports stood at $X in 2016. The total export value increased at an average annual rate of +X% over the period from 2007 to 2016; the trend pattern indicated...
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In May 2023, the Nitrates price in Australia (CIF) dropped by -25.1% to $407 per ton compared to the previous month.
