Nitrates market in Spain

Earlier Report Observations

From 2018 to 2024, the Spanish nitrates market experienced significant fluctuations in trade volumes, largely influenced by a series of environmental regulations aimed at protecting water resources. Import values dropped from 174.1 million dollars in 2018 to 142.0 million dollars in 2020, coinciding with the enhanced application of the Nitrates Directive through regional codes of good agricultural practice and the initiation of action programs in vulnerable zones like Murcia. The subsequent sharp rise in imports to 230.0 million dollars in 2022 may reflect market adjustments ahead of the stricter limits introduced by Royal Decree 47/2022, which lowered permissible nitrate levels in water and strengthened monitoring criteria.

Available production data shows an increase from 37.4 million dollars in 2021 to 42.7 million dollars in 2023, followed by a decline to 38.0 million dollars in 2024. The corresponding market size, calculated from production and trade, contracted to 108.1 million dollars in 2023 before recovering to 127.4 million dollars in 2024. This volatility occurred alongside continuous regulatory updates, including the 2021 decree-law for the Mar Menor area and the 2024 MITECO report which confirmed average nitrate reductions but highlighted persistent critical points in specific basins.

The regulatory landscape was defined by specific milestones such as the 2020 launch of Murcia's action program and the pivotal Royal Decree 47/2022. These measures directly targeted agricultural nitrate leaching, influencing demand patterns and supply chain behavior throughout the period. The consistent four-year reporting to the European Commission and the expansion of national water monitoring networks provided a framework that steadily shaped market conditions.

Production nitrates in Spain

According to Faostat, there is no production of nitrates in Spain.

Exports nitrates from Spain

Exports in kind, K t

After a two-year decline, Spain's cross-border shipments of nitrates increased in 2020. Exports reached 77.4 K t, representing a 27.9% gain compared to the previous year. However, over the 2017-2020 period, exports decreased by 14.1%, with a compound annual growth rate of -5.0%. The lowest export volume was recorded in 2019 at 60.5 K t, while the largest annual decline occurred in 2018 at 21.4%.

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

From 2017 to 2020, Turkey, Portugal, and Italy consistently formed the core group of markets for Spain's nitrate exports in volume terms. Turkey accounted for 31.5% of exports, Portugal for 12.5%, and Italy for 11.9%. Together, these three countries represented 55.9% of total export flows during this period.

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

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

Exports in value, M $ US

Spain's foreign nitrate supplies in value terms declined for the third consecutive year. In 2020, export volume registered 52.7 M $ US, showing a modest loss of 6.4% compared to the previous year. Between 2017 and 2020, exports decreased by 32.9%, equating to an annualized decline rate of 12.5%.

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

Throughout 2017-2020, Turkey, Portugal, and Italy remained the core markets for Spain's nitrate exports in value terms. Turkey represented 29.2% of exports, Portugal 11.6%, and Italy 10.3%. Collectively, these three countries accounted for 51.1% of total export flows in monetary value.

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

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

Imports nitrates to Spain

Imports in kind, K t

Foreign nitrate supplies to Spain declined for the third consecutive year in volume terms. In 2020, Spain imported 60.5 K t of nitrates, showing a significant drop of 37.2% compared to the previous year. Between 2017 and 2020, imports decreased by 46.5%, equating to an annualized decline rate of 18.8%.

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

From 2017 to 2020, Chile, Israel, and Jordan were the principal sources for Spain's nitrate imports in volume terms. Chile accounted for 39.8% of imports, Israel for 18.0%, and Jordan for 14.9%. Together, these three countries represented 72.6% of total import flows during this period.

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

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

Imports in value, M $ US

Spain's nitrate import volume in value terms declined for the second consecutive year. In 2020, imports were recorded at 142.0 M $ US, showing no material difference compared to the previous year. Over the 2017-2020 period, imports decreased by 15.4%, with a compound annual growth rate of -5.4%. The highest import value was recorded in 2018 at 174.1 M $ US. The largest annual decline occurred in 2019 at 18.2%, while the largest increase was in 2018 at 3.7%.

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

From 2017 to 2020, Chile, Israel, and Jordan were the primary suppliers of nitrates to Spain in value terms. Chile accounted for 45.5% of imports, Israel for 17.4%, and Jordan for 14.9%. Collectively, these three countries represented 77.9% of total import flows in monetary value during this period.

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

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