A competitive Asian NPK market is set to evolve next year due to rising exports from China meeting increased domestic capacity within the region.
China, already the world's leading NPK producer, reportedly increased its NPK exports - a trend that seems likely to continue in 2019. However this is also coinciding with a ramp up from domestic NPK markets including Vietnam, Myanmar, Indonesia and India.
Argus Media argues "as the world's leading consumer of NPKs, Asia also imports large quantities from Europe and Russia, so these incumbents — such as Norway's Yara and Russia's Acron — will play a part in this increasingly competitive mix. Saudi Arabia's Ma'aden is raising its NPK production and will also likely feature more in Asian markets going forward".
"The increased supply options for buyers from next year may cap potential price rises as sellers fight for market share."
Read the article online at: https://www.worldfertilizer.com/special-reports/19122018/asia-npk-market-is-expected-to-grow-in-2019/