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Mineral fertilizers (Russian market)
Main article: Mineral fertilizers (Russian market)
2024: The 10 largest countries in the world in terms of fertilizer exports. Russia in 1st place
The volume of global fertilizer exports in 2024 reached $60.91 billion. This is evidenced by the data of the national statistics services and the UN platform Comtrade, with which TAdviser got acquainted in May 2025. TAdviser has prepared an infographic with the world's largest fertilizer exporting countries.
In 2024, Russia remained the largest exporter of fertilizers, despite a decrease in revenues by 3% ($13.4 billion against $13.9 billion in 2023). The main reason was the fall in prices for raw materials.
China ranked second with exports of $8.5 billion (14% of the world market), which is 12% less than in 2023 ($9.7 billion).
Canada closes the top three with $6.7 billion (11%), despite a 33% year-on-year reduction in supplies.
The EU retained its fourth position with a share of 10.9% ($6.6 billion), but remains a net importer of fertilizers. In 2024, the negative balance of trade in these products amounted to $300 million.
In the fertilizer market, mineral fertilizers are the main exports. Organic fertilizers, as well as complex and liquid fertilizers occupy a small part of the market. About three-quarters (75.3%) of global fertilizer exports in 2024 were nitrogen products. Potash fertilizers accounted for 19.7% of the market, phosphorus fertilizers - 3.5%. The proportion of organic fertilizers was measured at 1.5%.
Among the regions in 2024, Europe retained its leadership in the volume of fertilizer exports, sending products worth $30.6 billion. Asian countries ranked second with 33.3%, while North America's share reached 14.5%. African supplies formed another 13.1% of the global market.
The rest of the regions had significantly smaller volumes. Latin America, including the Caribbean islands (without Mexico), provided 2.2% of the world's exports, where Trinidad and Tobago was the main supplier . Oceania, with the predominant participation of Australia, made a minimum contribution of 0.4% of the total.
Thus, the vast majority of global fertilizer exports - about 90% - were concentrated in four key regions: Europe, Asia, North America and Africa. This distribution demonstrates a high concentration of fertilizer production and supply in the most developed agricultural and industrial regions of the world.[1]
2023
Market growth of 4% to 192.5 million tons
In 2023, fertilizer consumption worldwide reached 192.5 million tons. This is 4% more compared to the indicator for 2022. Such data are given in a study by the International Association of Fertilizer Producers (IFA), the results of which TAdviser got acquainted with in mid-August 2024.
It is noted that a record volume of mineral fertilizer production was recorded in 2020: then a value of 200.2 million tons was shown. Consumption of these products on a global scale has decreased due to availability problems and high prices.
The production of ammonia fertilizers (nitrogen fertilizers that contain nitrogen in ammonia form) decreased by about 1% - to 182.2 million tons in 2022. It is noted that the decrease in availability is the main reason for the fall in fertilizer consumption in the period from 2020 to 2022. At the same time, according to Rabobank estimates, 2023 was much more stable than 2022: global use of fertilizers rose after a decrease of 7% in 2022. The use of nitrogen fertilizers in 2023 increased by about 2% after falling by 5.9% in 2022.
Samuel Taylor, an agricultural resources analyst at Rabobank, said nitrogen fertilizers are becoming more affordable. In 2023, prices decreased and fluctuate at the level of average historical values. According to analysts, in 2024, total fertilizer consumption will increase by almost 5% compared to the previous year. Prices for these products are expected to be at a lower level, and the availability of fertilizers will increase.
Experts also note that prices for nitrogen and potash fertilizers returned to average values for 10 years (by the end of 2023). At the same time, prices for phosphorus fertilizers remain quite high.[2]
Turkmenistan achieved production of nitrogen fertilizers in the amount of more than 1 million tons
In 2023, Turkmenistan managed to reach the level of production of nitrogen fertilizers in the amount of more than a million tons per year.
According to the American ITA, Turkmenistan plans to increase fertilizer production to 5 million tons per year.
Notes
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