Southern Asia: Fertilizer Market 2024

Fertilizer Market Size in Southern Asia

After two years of growth, the South Asian fertilizer market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2022, and then declined in the following year.

Fertilizer Production in Southern Asia

In value terms, fertilizer production stood at $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

Fertilizer Exports

Exports in Southern Asia

In 2023, approx. X tons of fertilizers were exported in Southern Asia; increasing by X% against the previous year. Overall, exports, however, continue to indicate a slight slump. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, fertilizer exports soared to $X in 2023. In general, exports, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

India was the key exporter of fertilizers in Southern Asia, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. It was distantly followed by Bangladesh (X tons), achieving a X% share of total exports.

India was also the fastest-growing in terms of the fertilizers exports, with a CAGR of X% from 2012 to 2023. Bangladesh (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total exports, while Bangladesh saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, India ($X) remains the largest fertilizer supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total exports.

In India, fertilizer exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while India amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%).

Fertilizer Imports

Imports in Southern Asia

In 2023, approx. X tons of fertilizers were imported in Southern Asia; with a decrease of X% against the year before. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2022, and then reduced remarkably in the following year.

In value terms, fertilizer imports shrank notably to $X in 2023. Over the period under review, imports, however, showed moderate growth. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

India represented the main importing country with an import of about X tons, which recorded X% of total imports. It was distantly followed by Bangladesh (X tons), constituting a X% share of total imports. The following importers - Pakistan (X tons) and Sri Lanka (X tons) - each recorded a X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2023. At the same time, Bangladesh (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. Sri Lanka experienced a relatively flat trend pattern. By contrast, Pakistan (X%) illustrated a downward trend over the same period. India (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while Pakistan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported fertilizers in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

In India, fertilizer imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then shrank dramatically in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Bangladesh ($X per ton) and Pakistan ($X per ton), while India ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform