Nitrites; Nitrates Price in Mexico - 2023

Nitrites; Nitrates Price in Mexico (CIF) - 2022

The average nitrites; nitrates import price stood at $2,229 per ton in 2022, waning by -15.4% against the previous year. Over the period under review, the import price, however, posted a prominent increase. The growth pace was the most rapid in 2017 when the average import price increased by 49% against the previous year. Over the period under review, average import prices attained the maximum at $4,781 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 the United States ($7,116 per ton), while the price for Spain ($1,267 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Nitrites; Nitrates Price in Mexico (FOB) - 2023

In June 2023, the average nitrites; nitrates export price amounted to $2,780 per ton, remaining constant against the previous month. Over the period under review, the export price enjoyed tangible growth. Over the period under review, the average export prices attained the maximum in June 2023.

As there is only one major export destination, the average price level is determined by prices for the United States.

From June 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to +2.5% per month.

Nitrites; Nitrates Imports in Mexico

In 2022, the amount of nitrites; nitrateses imported into Mexico skyrocketed to 14K tons, increasing by 84% compared with the previous year's figure. Over the period under review, imports showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 117% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, nitrites; nitrates imports skyrocketed to $30M in 2022. In general, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Nitrites; Nitrates in Mexico (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	6.6	4.9	6.9	15.2	32.1%
United States	7.1	7.1	9.2	10.0	12.1%
Germany	1.3	1.5	1.1	3.0	32.1%
Spain	1.7	2.2	1.7	1.2	-11.0%
Others	0.4	0.7	0.6	0.9	31.0%
Total	17.1	16.3	19.5	30.4	21.1%

Top Suppliers of Nitrites; Nitrates to Mexico in 2022:

China (9.9K tons)
United States (1.4K tons)
Germany (1.2K tons)
Spain (1.0K tons)

Nitrites; Nitrates Exports in Mexico

In 2022, shipments abroad of nitrites; nitrateses increased by 85% to 3.2K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +10.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitrites; nitrates exports soared to $3.5M in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.