Fertilizers: Price decline stimulates trade

By: Elisa Donegatti and Ester Venturelli

Teseo.clal.it - EU Import of fertilizers

Teseo.clal.it – EU Import of fertilizers

In 2022, the EU produced 54.4 million tonnes of fertilisers, down by -7% compared to 2021, due to the high cost of Natural Gas. According to Eurostat estimates, in 2023, production has further decreased by -3.4%. The main producers are France and Germany, followed by Poland. EU exports in 2022 and 2023 remained stable at 12.4 million tonnes, while imports were 17.6 million tonnes in 2022 and 16.3 million tonnes in 2023.

In 2024, both EU imports and exports of fertilisers are increasing, likely driven by decreasing prices.

EU imports have grown overall by +10%, reaching a total of 3.4 million tonnes.Purchases of nitrogen fertilisers have decreased, with Urea being the main one (imported at an average unit price of €347/tonne), more than compensated by increases in potassium fertilisers, mainly Potassium Chloride (€364/tonne), and mixed fertilisers. The main supplying country is Russia, with 969 thousand tonnes between January and February 2024, more than double compared to the same period in 2023. Significant quantities are also provided by North African countries such as Egypt, Morocco, and Algeria, which partly produce and partly resell Russian fertilisers.

EU exports registered an increase of +7.4%, reaching 2 million tonnes in the first two months, with quantities growing for nitrogen and mixed fertilisers, while potassium fertilisers decreased. The destinations are various, with the main ones being the USA, Ukraine, and the United Kingdom.

In particular, US demand for fertilisers is increasing (+20.7% January-March 2024) and, comparing the first three months of recent years, has reached record quantities not only from the EU but also from other major suppliers such as Canada, Russia, and Saudi Arabia.

Teseo.clal.it - import price of fertilizers

Teseo.clal.it – import price of fertilizers

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The CLAL.it team is composed of young people who with the help of Computer Science study the dairy market and develop tools to provide the Operators of the dairy sector with a comprehensive real-time view of the national and international market trends.

Posted in UE, _TESEO_en