BAKU, Azerbaijan, Oct. 19
By Klavdiya Romakayeva - Trend:
For 9M2020, over 1.5 million tons of mineral fertilizers have been sold at Uzbek Commodity Exchange (UzEX), which is 16.1 percent less than in the same period last year, trend reports referring to the press service of UzEX.
The largest deals were concluded for the sale of ammonium nitrate, which has a 57 percent market shareç followed by carbamide with 13 percent and ammonium sulfate with 9 percent market share.
According to the results of exchange trades in recent months, the exchange market of mineral fertilizers remains relatively stable. From September through October this year, 411.7 tons of mineral fertilizers were put up for exchange trades, of which 160.6 tons or 39 percent were sold.
At the same time, from September 2 to October 8 this year, the exchange price per ton of ammonium nitrate decreased from 1,855 soums to 1,821 soums, or two percent.
Similarly, the price of a ton of ammonium sulfate decreased from 1,193 soums to 1,110 soums, or by seven percent. The price of urea, on the contrary, increased by four percent from 1,929 soums to 2,006 soums per ton.
Analysis of the demand structure by regions of Uzbekistan in 2019, conducted by analysts of the Economic Review, showed that more than 70 percent of the total volume falls on mineral fertilizers based on nitrogen compounds, including urea, ammonium nitrate, ammonium sulfate and others. At the same time, the share of phosphorus and potash fertilizers averages about 19 percent and eight percent, respectively.
The greatest need for fertilizers falls on the Kashkadarya (13.1 percent) and Fergana regions (9.2 percent). Bukhara, Jizzakh, Samarkand, Surkhandarya and Tashkent regions consume approximately the same total amount of fertilizers, about 8 percent each. The lowest demand indicator is registered in Navoi region (3.3 percent).
According to experts, the need for nitrogen fertilizers in Uzbekistan is covered by 73 percent, and in phosphorus fertilizers it is covered by 20 percent.
It is planned to implement nine projects with a total cost of $2.8 billion for the growth of domestic production in the medium term. Upon completion of the investment projects, it is planned to fully meet the needs of the agricultural industry in mineral fertilizers based on phosphorus, nitrogen and potash fertilizers.
---
Follow the author on Twitter: @romakayeva