HS Code:
The Nitrites; Nitrates category (HS Code: 2834) includes chemical compounds such as sodium nitrite, potassium nitrate, and other nitrate and nitrite compounds used primarily in fertilizers, food preservation, and industrial applications like explosives and glass manufacturing. These chemicals are critical in agriculture for enhancing soil fertility and in the food industry for preserving meats and preventing bacterial growth. Global trade in this category is influenced by agricultural demand, industrial needs, and regulatory frameworks concerning environmental and safety standards.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 120 million
10% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU internal trade or USMCA)
Rising demand for agricultural fertilizers
Increased export volumes from major producers like China and Russia due to global food security concerns
2021-2022
Shift towards eco-friendly alternatives
Slowing growth in traditional nitrate-based fertilizers as organic farming gains traction in Europe and North America
2020-2022
Supply chain disruptions
Price volatility and trade delays due to geopolitical tensions and sanctions on key exporters like Russia
2022
The European Union introduced new limits on nitrate usage in agriculture to reduce water pollution under the Nitrates Directive.
March 2023
Likely to reduce import demand in the EU while pushing exporters to seek alternative markets in Asia and Africa.
Sanctions and trade disruptions due to the ongoing conflict have constrained nitrate exports from Russia, a key global supplier.
February 2022 onwards
Global price spikes and supply shortages, benefiting alternative suppliers like Chile and China.
China announced investments in nitrate production facilities to meet domestic and export demand, especially for fertilizers.
June 2023
Expected to solidify China’s position as the leading exporter, potentially driving down global prices in the short term.