Sunday, March 3, 2024

The fertilizer trade balance is positive for Peru

However, the value of our foreign trade in fertilizers amounted to US$ 1,000 million between January and November 2023, which shows a decrease of -25.21%.

Between January and November 2023, Peruvian fertilizer exports amounted to US$ 548 million, registering a growth of + 16.3% compared to US$ 471 million registered in the same months last year, reports the Ministry of Foreign Trade and Tourism (Mincetur) in its Monthly Trade Report.

He emphasized that in the first eleven months of 2023, the main fertilizer exported by Peru is natural calcium phosphate, whose shipments amounted to US $524 million for 1,545,000 tons, showing an increase of +2% in value and a decrease of -4.5% in volume. This product accounts for 96% of the total exported value and 98% of the total shipped volume.

The main destinations of calcium phosphates from Peru are: the United States with 978,000 tons, showing a drop of -3.4% (participating in 61% of the total); Brazil with 368,000 tons, showing an increase of + 20.7% (concentrate of 24% of the total); Argentina with 81,000 tons, marking a decrease of -36.9% (representing 6% of the total); Mexico with 58,000 tons, an increase of +343.9% (5% of the total); India with 24,000 tons, which observed a decrease of -49.9% (1% of the total); Malaysia with 16,000 tons, recorded a decrease of -33.4% (1% of the total).

It is followed by mineral fertilizers, whose shipments in the analyzed period in 2023 amounted to US$ 6 million (-19.8%) for 9 thousand tons (-12.8%), which participated in 1% of the total shipments in amount and quantity.

Monoammonium phosphate continued to be shipped at US$ 6 million (-51.9%) and 9 thousand tons (-6%); animal fertilizer with US$ 4 million (+78.6%) and 4 thousand tons (+100%); diammonium phosphate with US$ 3 million (-65.5%) and 4 thousand tons (-48.8%); ammonium nitrate with US$ 1 million (-88.1%) and 1,000 tons (-90.7%); potassium chloride with US$ 1 million (-33.2%) and 2 thousand tons (+4%); others have US$ 2 million (-29.2%).

Imported fertilizer
Regarding the import of fertilizers in Peru, between January and November 2023, they amounted to US$ 452 million, which shows a decrease of -47.8% compared to US$ 866 million from January to November 2022. This drop is explained by the low price of fertilizers around the world, especially urea.

Precisely, urea is the main fertilizer imported by Peru in the first eleven months of 2023, with purchases of US$ 92 million (-47.9%) and 242 thousand tons (-6.5%). This product represents 24% of the imported value and 23% of the imported volume.

Diammonium phosphate continues with US$ 71 million (+10.7%) and 132,000 tons (+88.5%), which includes 15% of the value and 11% of the volume of the total imported. Ammonium sulfate has a value of 45 million (-51.3%) and a volume of 256,000 tons (-10%), which accounts for 9% of the value and 21% of the total volume.

Ammonium nitrate with US$ 30 million (-78.7%) and 102 thousand tons (-50.4%), representing 9% of the value and 11% of the total volume. Potassium chloride with US$ 41 million (-16.4%) and 106 thousand tons (+80.7%), representing 8% of the imported value and volume.

Mineral fertilizers with US$ 42 million (-30.6%) and 49 thousand tons (-3.7%) contributed 8% of the value and 4% of the total imported volume. Potassium nitrate with US$ 21 million (-66.1%) and 22 thousand tons (-51%), concentrating 6% of the value and 2% of the total volume.

Potassium sulfate with US$ 22 million (-69.9%) and 33,000 tons (-57.5%), representing 5% of the value and 3% of the imported volume. Others had US$ 87 million (-40.4%) and concentrated in 17% of the total amount.

He emphasized that the main suppliers of urea are Russia with 154,000 tons, registering a growth of + 30.2% (58% of the total); Malaysia with 18,000 tons (19% of the total); China with 30,000 tons, showing an increase of +118.7% (9% of the total); the European Union with 16,000 tons, marked an increase of +4,297% (5% of the total); and Bolivia with 11,000 tons, showing a drop of -53.4% ​​​​​​(4% of the total).

Similarly, the main suppliers of diammonium phosphate in Peru are the United States with 72 thousand tons, an increase of +69.9% (62% of the total); China with 46 thousand tons, a growth of +153.5% (29% of the total); and Morocco with 8 thousand tons (5% of the total).

The main supplier of ammonium nitrate is Russia with 102 thousand tons, increasing by +20.6% (95% of the total), China (5% of the total), the European Union, and the United St,es,.

Fertilizer trade balance
On another occasion, Mincetur emphasized that the balance of trade in fertilizers in Peru between January and November 2023 is positive, with a balance in favor of US$96 million, which is explained by the fact that exports amounted to US$548 million and imports to US$452 million.

However, the value of our foreign trade in fertilizers between January and November 2023 amounted to US$ 1,000 million (exports + imports), which shows a decrease of -25.21% because in the same months of 2022, foreign trade reached US$ 1,337 million (exports amounted to US$ 471 million and imports US$ 866 million).

World Nation News Desk
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