The forecast for Canada's urea imports shows a steady increase from 2024 to 2028, with projections rising from 894.86 million kilograms in 2024 to 943.71 million kilograms by 2028. Assuming stable conditions, this trend follows a consistent upward pattern. If we compare it to actual figures of 2023, and observe the projected growth year-on-year: 2025 is expected to see an increase of approximately 1.41%, 2026 by about 1.36%, 2027 by roughly 1.31%, and 2028 by around 1.27%. This indicates a Compound Annual Growth Rate (CAGR) of approximately 1.34%.
Future trends to watch for include:
- Global urea production and pricing which could impact import based on cost efficiency.
- Environmental policies targeting fertilizer usage might affect demand.
- Emerging technologies in agriculture that may alter nutrient application efficiency.
