Thailand - Fertilizers - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Apr 20, 2024

Thailand - Fertilizers - Market Analysis, Forecast, Size, Trends and Insights

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Fertilizer Price in Thailand - 2023

Contents:

  1. Fertilizer Price in Thailand (CIF) - 2022
  2. Fertilizer Price in Thailand (FOB) - 2022
  3. Fertilizer Imports in Thailand
  4. Fertilizer Exports in Thailand

Fertilizer Price in Thailand (CIF) - 2022

In 2022, the average fertilizer import price amounted to $604 per ton, with an increase of 47% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer import price increased by +103.7% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($983 per ton), while the price for Canada ($314 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Fertilizer Price in Thailand (FOB) - 2022

The average fertilizer export price stood at $625 per ton in 2022, increasing by 58% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer export price increased by +100.9% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($920 per ton), while the average price for exports to Ecuador ($288 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 Vietnam (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports in Thailand

After three years of growth, purchases abroad of fertilizers decreased by -9.2% to 5.1M tons in 2022. The total import volume increased at an average annual rate of +5.9% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 18%.

In value terms, fertilizer imports surged to $3.1B in 2022. In general, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 54% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Import of Fertilizer in Thailand (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Saudi Arabia29927633161026.8%
China23124551746626.4%
Canada98.978.512028742.6%
Malaysia10512820128639.7%
Russia19715718128513.1%
Qatar16514816028219.6%
Norway90.895.014417023.3%
South Korea10374.21121277.2%
Israel27.537.240.479.342.3%
Belarus58.554.011266.94.6%
Germany20.031.423.858.943.3%
Bahrain20.225.018.353.738.5%
Others12715335631635.5%
Total1,5431,5032,3183,08926.0%

Top Suppliers of Fertilizer to Thailand in 2022:

  1. Canada (914.3K tons)
  2. Saudi Arabia (782.6K tons)
  3. China (730.6K tons)
  4. Malaysia (414.1K tons)
  5. Qatar (395.2K tons)
  6. Russia (389.5K tons)
  7. South Korea (207.4K tons)
  8. Israel (205.4K tons)
  9. Belarus (187.7K tons)
  10. Norway (172.9K tons)
  11. Germany (172.7K tons)
  12. Bahrain (81.9K tons)

Fertilizer Exports in Thailand

Fertilizer exports from Thailand declined notably to 405K tons in 2022, waning by -35.6% against the previous year. In general, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 24%. As a result, the exports attained the peak of 629K tons, and then contracted sharply in the following year.

In value terms, fertilizer exports amounted to $253M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 57%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Export of Fertilizer in Thailand (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Cambodia82.856.695.793.24.0%
Lao People's Democratic Republic50.647.655.963.67.9%
Myanmar13.434.764.258.263.2%
Australia4.02.23.810.738.8%
Japan0.40.50.58.1172.6%
Malaysia6.83.37.26.1-3.6%
Ecuador0.10.1N/A4.8263.4%
Vietnam10.57.88.24.3-25.7%
Others3.85.913.44.12.6%
Total17215924925313.7%

Top Export Markets for Fertilizer from Thailand in 2022:

  1. Cambodia (148.0K tons)
  2. Lao People's Democratic Republic (84.7K tons)
  3. Myanmar (84.6K tons)
  4. Australia (27.0K tons)
  5. Japan (17.8K tons)
  6. Ecuador (16.8K tons)
  7. Malaysia (15.4K tons)
  8. Vietnam (4.7K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the fertilizer market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 4025 - Potassium nitrate
  • FCL 4004 - Calcium ammonium nitrate (CAN) and other mixtures with calcium carbonate
  • FCL 4005 - Sodium nitrate
  • FCL 4023 - Monoammonium phosphate (MAP)
  • FCL 4001 - Urea
  • FCL 4002 - Ammonium sulphate
  • FCL 4003 - Ammonium nitrate (AN)
  • FCL 4006 - Urea and ammonium nitrate solutions (UAN)
  • FCL 4016 - Potassium chloride (muriate of potash) (MOP)
  • FCL 4021 - NPK fertilizers
  • FCL 4014 - Other phosphatic fertilizers, n.e.c.
  • FCL 4022 - Diammonium phosphate (DAP)
  • FCL 4027 - PK compounds
  • FCL 4024 - Other NP compounds
  • FCL 4008 - Other nitrogenous fertilizers, n.e.c.
  • FCL 4012 - Superphosphates above 35%
  • FCL 4013 - Superphosphates, other
  • FCL 4018 - Other potassic fertilizers, n.e.c.

Country coverage:

  • Thailand

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Thailand
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023
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