CIS: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in CIS

The CIS potassium sulphate (SOP) market declined sharply to $X in 2023, waning by X% against the previous year. Over the period under review, consumption, however, recorded strong growth. As a result, consumption attained the peak level of $X, and then reduced rapidly in the following year.

Potassium Sulphate (Sop) Production in CIS

In value terms, potassium sulphate (SOP) production totaled $X in 2023 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports in CIS

In 2023, shipments abroad of potassium sulphate (SOP) was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. In general, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports skyrocketed to $X in 2023. Over the period under review, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Russia dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Uzbekistan (X tons), generating a X% share of total exports.

Exports from Russia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Uzbekistan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2023. While the share of Uzbekistan (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Russia (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest potassium sulphate (SOP) supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Russia totaled X%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked at $X per ton in 2022, and then fell in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Russia stood at $X per ton.

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

Potassium Sulphate (Sop) Imports

Imports in CIS

In 2023, supplies from abroad of potassium sulphate (SOP) increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, imports saw resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports surged to $X in 2023. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Azerbaijan (X tons) represented the major importer of potassium sulphate (SOP), making up X% of total imports. It was distantly followed by Kazakhstan (X tons), Russia (X tons), Uzbekistan (X tons) and Armenia (X tons), together achieving a X% share of total imports. The following importers - Belarus (X tons) and Moldova (X tons) - each finished at a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Armenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Azerbaijan ($X) constitutes the largest market for imported potassium sulphate (SOP) in the CIS, comprising X% of total imports. The second position in the ranking was taken by Russia ($X), with a X% share of total imports. It was followed by Kazakhstan, with a X% share.

In Azerbaijan, potassium sulphate (SOP) imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Russia (X% per year) and Kazakhstan (X% per year).

Import Prices by Country

In 2023, the import price in the CIS amounted to $X per ton, which is down by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Moldova ($X per ton), while Belarus ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform