Nitrites; Nitrates Price in Japan - 2023
Contents:
- Nitrites; Nitrates Price in Japan (CIF) - 2023
- Nitrites; Nitrates Price in Japan (FOB) - 2022
- Nitrites; Nitrates Imports in Japan
- Nitrites; Nitrates Exports in Japan
Nitrites; Nitrates Price in Japan (CIF) - 2023
The average nitrites; nitrates import price stood at $1,751 per ton in September 2023, picking up by 63% against the previous month. Over the period under review, import price indicated a slight expansion from September 2022 to September 2023: its price increased at an average monthly rate of +1.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, nitrites; nitrates import price increased by +76.1% against July 2023 indices. The import price peaked at $1,864 per ton in June 2023; however, from July 2023 to September 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was China ($2,122 per ton), while the price for Norway ($615 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the prices for the other major suppliers experienced a decline.
Nitrites; Nitrates Price in Japan (FOB) - 2022
In 2022, the average nitrites; nitrates export price amounted to $5,265 per ton, picking up by 9.1% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrites; nitrates export price increased by +43.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 34%. The export price peaked in 2022 and is likely to see gradual growth in the near future.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($10,636 per ton), while the average price for exports to Vietnam ($3,142 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 South Korea (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Nitrites; Nitrates Imports in Japan
In 2022, the amount of nitrites; nitrateses imported into Japan reached 48K tons, picking up by 1.7% against the previous year. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 15% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, nitrites; nitrates imports surged to $60M in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +13.0% 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 +61.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Nitrites; Nitrates in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 26.9 | 22.4 | 29.4 | 37.7 | 11.9% |
| Spain | 2.9 | 2.2 | 3.6 | 4.6 | 16.6% |
| India | 2.2 | 1.8 | 2.6 | 4.5 | 26.9% |
| Norway | 1.8 | 1.6 | 1.9 | 3.6 | 26.0% |
| Chile | 2.4 | 2.3 | 1.9 | 3.5 | 13.4% |
| Jordan | 0.4 | 0.4 | 0.8 | 1.4 | 51.8% |
| Others | 4.7 | 6.0 | 6.3 | 4.3 | -2.9% |
| Total | 41.3 | 36.8 | 46.6 | 59.5 | 12.9% |
Top Suppliers of Nitrites; Nitrates to Japan in 2022:
- China (30.0K tons)
- Norway (5.7K tons)
- India (4.1K tons)
- Spain (2.5K tons)
- Chile (2.0K tons)
- Jordan (0.9K tons)
Nitrites; Nitrates Exports in Japan
In 2022, after two years of decline, there was significant growth in overseas shipments of nitrites; nitrateses, when their volume increased by 22% to 2.2K tons. Overall, exports, however, recorded a slight downturn.
In value terms, nitrites; nitrates exports surged to $11M in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.7% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Nitrites; Nitrates in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 2.4 | 2.4 | 2.6 | 4.0 | 18.6% |
| Indonesia | 0.6 | 0.4 | 1.0 | 2.3 | 56.5% |
| China | 1.2 | 2.0 | 1.6 | 2.0 | 18.6% |
| Thailand | 0.9 | 0.6 | 1.0 | 0.8 | -3.9% |
| United States | 0.1 | 0.1 | 0.1 | 0.6 | 81.7% |
| Taiwan (Chinese) | 0.5 | 0.5 | 0.8 | 0.4 | -7.2% |
| Vietnam | 1.5 | 0.4 | 0.4 | 0.3 | -41.5% |
| Singapore | 0.3 | 0.3 | 0.4 | 0.1 | -30.7% |
| Others | 0.6 | 0.4 | 0.6 | 0.7 | 5.3% |
| Total | 8.1 | 7.1 | 8.5 | 11.3 | 11.7% |
Top Export Markets for Nitrites; Nitrates from Japan in 2022:
- South Korea (585.8 tons)
- China (522.4 tons)
- Indonesia (497.7 tons)
- Thailand (127.2 tons)
- Vietnam (97.3 tons)
- Taiwan (Chinese) (62.3 tons)
- United States (57.5 tons)
- Singapore (23.0 tons)
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