Price for Fertilizers; Mineral or Chemical, Phosphatic in South Korea - 2022
Contents:
- Price for Fertilizers; Mineral or Chemical, Phosphatic in South Korea (CIF) - 2022
- Price for Fertilizers; Mineral or Chemical, Phosphatic in South Korea (FOB) - 2022
- Imports of Fertilizers; Mineral or Chemical, Phosphatic in South Korea
- Exports of Fertilizers; Mineral or Chemical, Phosphatic in South Korea
Price for Fertilizers; Mineral or Chemical, Phosphatic in South Korea (CIF) - 2022
In 2022, the average import price for fertilizers; mineral or chemical, phosphatics amounted to $205 per ton, waning by -4.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2018 an increase of 14%. As a result, import price reached the peak level of $222 per ton. From 2019 to 2022, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($261 per ton), while the price for Vietnam amounted to $176 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%).
Price for Fertilizers; Mineral or Chemical, Phosphatic in South Korea (FOB) - 2022
The average export price for fertilizers; mineral or chemical, phosphatics stood at $452 per ton in 2022, declining by -1.9% against the previous year. Overall, the export price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 151% against the previous year. The export price peaked at $490 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Japan.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to +34.7% per year.
Imports of Fertilizers; Mineral or Chemical, Phosphatic in South Korea
In 2022, overseas purchases of fertilizers; mineral or chemical, phosphatics decreased by -12.9% to 31K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +16.8% 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 +59.2% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 40% against the previous year. As a result, imports reached the peak of 36K tons, and then dropped in the following year.
In value terms, fertilizers; mineral or chemical, phosphatic imports contracted dramatically to $6.3M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +17.7% 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 +63.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. As a result, imports attained the peak of $7.6M, and then reduced markedly in the following year.
| Import of Fertilizers; Mineral or Chemical, Phosphatic in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 2.4 | 2.6 | 4.3 | 3.6 | 14.5% |
| China | 1.4 | 2.4 | 3.2 | 2.7 | 24.5% |
| Others | N/A | 0.1 | 0.1 | 0.1 | 0.0% |
| Total | 3.9 | 5.1 | 7.6 | 6.3 | 17.3% |
Top Suppliers of Fertilizers; Mineral or Chemical, Phosphatic to South Korea in 2022:
- Vietnam (20.3K tons)
- China (10.3K tons)
Exports of Fertilizers; Mineral or Chemical, Phosphatic in South Korea
In 2022, after three years of growth, there was significant decline in shipments abroad of fertilizers; mineral or chemical, phosphatics, when their volume decreased by -39.4% to 448 tons. In general, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 370% against the previous year. As a result, the exports attained the peak of 738 tons, and then declined remarkably in the following year.
In value terms, fertilizers; mineral or chemical, phosphatic exports reduced remarkably to $202K in 2022. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 428%. As a result, the exports attained the peak of $340K, and then dropped sharply in the following year.
| Export of Fertilizers; Mineral or Chemical, Phosphatic in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 43.4 | 50.7 | 157 | 202 | 67.0% |
| Malaysia | N/A | N/A | 176 | N/A | 0% |
| Others | 6.9 | 13.7 | 7.5 | N/A | 4.3% |
| Total | 50.3 | 64.4 | 340 | 202 | 59.0% |
Top Export Markets for Fertilizers; Mineral or Chemical, Phosphatic from South Korea in 2022:
- Japan (447.8 tons)
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