Potassium chloride is an important potash fertilizer and chemical. As the world's main source of potash fertilizer, potassium chloride contains a high proportion of potassium and is one of the important nutrients for promoting plant growth and increasing crop yields. In the agricultural field, potassium chloride is widely used in a variety of crops, including cereals, oil crops, fruits, etc. With the growth of the global population and the increase in food demand, the increase in agricultural output has become a focus of attention in various countries, which has also greatly promoted the demand for the global fertilizer market, especially the demand for potassium chloride.
The global potassium chloride market presents an oligopolistic pattern. The five companies (Nutrien, Uralkali, Mosaic, Belaruskali and ICL) have a combined market share of more than 60%. Canada, Russia and Belarus are the world's major potassium chloride suppliers, accounting for 60% of global production. According to CRI analysis, Latin America, Asia and Africa are the world's major potassium chloride consumption regions. Among them, Southeast Asia has a rapid increase in demand for potassium chloride as its population grows and agricultural development continues to advance, making it an important region for demand growth.
Indonesia is a large agricultural country with a huge demand for fertilizers. Indonesia has about 80 million hectares of arable land, and its main cash crops include palm oil, rubber, coffee and cocoa, which have a large demand for potash fertilizers. The overall development level of Indonesia's potash fertilizer industry is low, domestic production capacity is insufficient, and most of the potash fertilizer demand relies on imports. According to CRI data, Indonesia's cumulative imports of potassium chloride in 2024 were US$1.002 billion, and it is expected to continue to grow in the next few years.
According to CRI analysis, Indonesia's main import sources of potassium chloride include Singapore, Canada, Hong Kong, Russia, the United Arab Emirates and Latvia. From 2021 to 2024, Indonesia's main import sources of potassium chloride are Singapore, Canada and Hong Kong, accounting for more than 60% of the total import value.
According to CRI analysis, the companies that export potassium chloride to Indonesia from 2021 to 2024 are mainly some fertilizer manufacturers and national trading companies. The main importers of potassium chloride in Indonesia from 2021 to 2024 are mainly local Indonesian trading companies.
In general, Indonesia's potassium chloride market is highly dependent on foreign countries, and there is great room for future demand growth. With the growth of Indonesia's population and the advancement of agricultural modernization, Indonesia's potassium chloride market is expected to continue to grow. CRI predicts that due to the limited production capacity and output of local potassium chloride in Indonesia, Indonesia's potassium chloride imports will continue to rise in the next few years.
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