Animal or vegetable fertilizers market in Greece

Earlier Report Observations

The market for animal or vegetable fertilizers in Greece showed significant volatility in physical volume from 2018 to 2020. Market volume surged by over 40% in 2019 to 76 290 t, largely driven by a sharp increase in imports, which more than tripled to 33 746 t. However, this expansion in volume was not reflected in market value, which dipped slightly to 24.7 million USD, suggesting lower average prices. In 2020, the market volume contracted sharply by 35% to 49 208 t, yet the market value rose by 16% to 28.6 million USD, indicating a notable increase in unit prices during that year.

The market entered a period defined by global price shocks and state intervention. In 2021, a worldwide surge in fertilizer prices, which had begun the previous year, drove the market value up by 30% to 37.1 million USD, even as physical volume recovered moderately to 59 994 t. The situation intensified in 2022 following Russia's invasion of Ukraine, which triggered an energy crisis and severely disrupted global fertilizer supply chains, pushing costs higher. In response, the Greek government implemented a substantial support package, including direct subsidies covering 15% of fertilizer costs, a temporary suspension of import duties on key inputs like ammonia and urea, and a reduction of VAT on fertilizers to 6%. These measures, channeled through a special Crisis Framework and amounting to initial aid of €60 million, were designed to cushion farmers from price spikes and secure supply. Despite this support, the market volume edged down by 4% to 57 352 t in 2022, while the value declined to 34.0 million USD, as high costs likely constrained consumption.

Government support mechanisms evolved in 2023 to address ongoing challenges. A new Joint Ministerial Decision refined the subsidy program, and a fresh Crisis Framework was announced to facilitate state-coordinated purchases. Furthermore, the launch of eco-schemes under the new Common Agricultural Policy promoted the use of stabilized fertilizers. However, the market continued to face headwinds from persistently high natural gas prices and broader efforts under the EU's REPowerEU strategy to diversify away from Russian and Belarusian fertilizers. These combined pressures contributed to a further contraction, with market volume falling to 52 246 t and value dropping to 29.4 million USD in 2023. The trend of gradual decline continued into 2024, with the market reaching 50 658 t valued at 28.1 million USD.

Production animal or vegetable fertilizers in Greece

In value, 2017-2020, K $ US

The market exhibited significant volatility during this period. Production reached its lowest point in 2017, then peaked in 2020, showing a substantial 7.3-fold difference between these years. In 2020, Greece's output of animal or vegetable fertilizers was valued at 21 780 thousand US dollars, marking a 10.6% increase from the previous year. The largest decline occurred in 2019 at 3.0%, while the most dramatic increase was recorded in 2018 with a remarkable 580.1% surge.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, t

Market volatility was evident throughout the observed timeframe. Production volume hit its lowest level in 2017 before reaching its highest point in 2020, representing a 4.5-fold gap between these years. In 2020, Greece produced 46 723 tons of animal or vegetable fertilizers, reflecting a 6.7% improvement compared to 2019. The largest decline was recorded in 2019 at 0.6%, while the most significant increase occurred in 2018 with a substantial 325.6% growth.

Annual dynamics of production in Greece in kind, 2017-2020, t

Exports animal or vegetable fertilizers from Greece

Exports in kind, t

Greece's exports of animal or vegetable fertilizers increased for the third consecutive year. In 2020, exports reached 2 893 tons, representing a sharp 134.5% rise compared to the previous year. Over the 2017-2020 period, exports grew by 427.9%, with a compound annual growth rate of 74.1%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Croatia (24.4% of exports in kind), Bulgaria (24.0% of exports in kind), and Albania (17.2% of exports in kind) formed the core group of trading partners for Greece's exports of animal or vegetable fertilizers, collectively accounting for 65.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Following two years of decline, Greece's exports of animal or vegetable fertilizers increased in value terms. In 2020, Greece exported 1 360 thousand US dollars worth of these products, representing a 39.0% year-over-year increase. Over the 2017-2020 period, exports decreased by 5%, with a compound annual growth rate of 1.7%. The minimum value was recorded in 2019 at 978 thousand US dollars, which also saw the largest decline of 17.7%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Between 2017 and 2020, Italy (26.4% of exports in value terms), Cyprus (17.5% of exports in value terms), and Bulgaria (10.9% of exports in value terms) were the leading destinations for Greece's exports of animal or vegetable fertilizers, collectively representing 54.8% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports animal or vegetable fertilizers to Greece

Imports in kind, t

The import market demonstrated considerable volatility during the observed period. Imports reached their lowest point in 2020 after hitting their maximum in 2019, showing a 6.3-fold difference between these years. In 2020, Greece imported 5 379 tons of animal or vegetable fertilizers, representing a steep 84.1% decline from 2019. The maximum volume was recorded in 2019 at 33 746 tons, which also saw the largest increase of 222.1%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, the Netherlands and Italy together accounted for 83.1% of Greece's total imports of animal or vegetable fertilizers in kind, with the remaining flows distributed across various other markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

In 2020, Greece imported 8 229 thousand US dollars worth of animal or vegetable fertilizers, representing a 36.8% increase compared to the previous year. Over the 2017-2020 period, imports grew by 76%, with a compound annual growth rate of 20.7%. The largest decline occurred in 2019 at 5.8%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

Between 2017 and 2020, Italy (50.4% of imports in value terms), Spain (19.9% of imports in value terms), and the Netherlands (8.5% of imports in value terms) consistently held leading positions in Greece's import structure for animal or vegetable fertilizers, collectively accounting for 78.9% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020