HS Code:
Monopotassium phosphate (MKP), with CAS No. 7778-77-0, falls under HS Code 2835.24.00. It is a soluble salt of potassium and dihydrogen phosphate, widely used as a fertilizer, food additive, and buffering agent in various industrial applications. It is particularly valued in agriculture for its high phosphorus and potassium content, promoting plant growth. The global trade of MKP is driven by demand in agricultural sectors, especially in regions with intensive farming practices, as well as in food processing industries.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and ITC Trade Map
$450 million USD
37.5% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$100 million USD
8.3% of total trade of total trade
Stable
$80 million USD
6.7% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like USMCA or EU trade pacts)
Rising demand for high-efficiency fertilizers
Increased adoption of MKP in drip irrigation and hydroponics, especially in water-scarce regions, driving export growth from major producers like China and Israel.
2021-2023
Shift towards sustainable agriculture
Growing preference for MKP due to its low environmental footprint compared to other fertilizers, boosting trade in regions with strict environmental policies like the EU.
2020-2022
Geopolitical tensions affecting supply chains
Sanctions and trade restrictions on Russia have reduced its export share, creating opportunities for other suppliers like China and the US.
2022-2023
The European Union initiated an anti-dumping investigation into Chinese exports of monopotassium phosphate, citing unfair pricing practices.
March 2023
Potential imposition of higher tariffs on Chinese MKP, which may shift market share to other exporters like Israel and Belgium.
New manufacturing facilities for MKP were announced in the United States to reduce dependency on imports amid global supply chain disruptions.
July 2022
Likely to reduce import volumes from China while increasing US export potential to neighboring markets like Canada and Mexico.
Israel signed new trade agreements with several Asian countries to supply MKP for agricultural use, strengthening its position as a key exporter.
October 2022
Expected to solidify Israel's market share in Asia, a region with growing demand for high-quality fertilizers.