Key Market Indicators
The export of phosphate from Korea is projected to reach $236 million by 2026, up 2.9% year-on-year, according to a compound annual growth rate (CAGR). Compared to 1993, there has been a 2.9% year-on-year decrease in Korean supply. In 2021, Uruguay ranked first with $199 million, while Jordan, Russia, and Peru came in second, third, and fourth, respectively. Korean phosphate imports, on the other hand, are set to drop to $33 million by 2026, with a 7.2% year-on-year average rate. Since 1993, there has been a 6.2% year-on-year fall in Korean demand. In 2021, Belarus topped the ranking with $51 million, followed by the United States, Indonesia, and Lithuania.