Market Trends of argentina fertilizer Industry
The considerable increase in cultivated land is foreseen to directly and favorably influence the Argentine fertilizer market
- Argentina's agricultural landscape encompasses a rich diversity of crops, with a primary focus on field crops. Notably, soybeans, corn, wheat, and cotton are the prevailing field crops that dominate the country. In the year 2022, these field crops accounted for a substantial 97.8% of the total agricultural cultivation in Argentina. This focus on field crops underscores their pivotal role in the country's agricultural sector, signifying their prominence and significance in the nation's farming practices. The versatility and adaptability of these crops contribute to Argentina's prominent position as a global agricultural powerhouse.
- Among key crops, soybeans hold a dominant position, making Argentina one of the world's leading soybean producers and exporters. Maize, commonly known as corn, is another staple crop that is harvested the most. As of 2022, soybeans led in terms of cultivated land area, covering 44.3% of the total arable land, while corn followed closely behind with 22.8%. The primary regions for soybean cultivation are Buenos Aires, Cordoba, Santa Fe, and Santiago del Estero. For corn, the main planting regions include Cordoba, Buenos Aires, Santa Fe, Santiago del Estero, and Entre Rios. These regions play a pivotal role in the production of these essential crops in Argentina's agricultural landscape.
- The substantial rise in both local and global demand for field crops has spurred a noteworthy expansion in the acreage allocated to these crops. This considerable increase in cultivated land is foreseen to directly and favorably influence the Argentine fertilizer market. This expansion in crop cultivation has generated increased fertilizer demand, presenting more growth opportunities for the fertilizer industry in Argentina.
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Rapeseed/canola, cotton, corn, and sorghum are some of the major primary nutrient-consuming crops in the country
- The average nutrient application rate can vary widely depending on factors such as the specific crop, soil conditions, regional practices, and mechanization used in agriculture. In the country, the average primary nutrient application rate for field crops is about 168.2 kg/hectare. Field crops such as rapeseed/canola, cotton, corn, and sorghum are some of the major primary nutrient-consuming crops in the country. Among all the primary nutrients, nitrogen is applied in the highest quantity, which is 193.1 kg/hectare on average for field crops. Nitrogen deficiency, however, is one of the most prevalent crop nutrient problems across the country. Hence, most of the nitrogen supplemented is through soil application so that when applied to soil, nitrogen is converted to mineral form.
- Potassium is the second-highest applied primary nutrient to field crops, with 181.2 kg/hectare on average. Potassium is a crucial nutrient for crop growth in Argentina, particularly for field crops like soybeans, maize (corn), wheat, and sunflowers. Its significance lies in its multiple roles in plant development and overall health. Firstly, potassium plays a vital part in osmotic regulation, helping plants maintain proper water uptake and transport, which ensures healthy cell turgor pressure. Secondly, it contributes to stress tolerance, enabling crops to withstand challenging conditions like drought, salinity, and temperature fluctuations.
- Phosphorus is a vital nutrient for plant growth, and its average application rate in fertilizers can vary depending on factors like soil conditions, crop type, and regional practices. Typically, phosphorus is applied at 130.1 kilograms of phosphorus per hectare (kg/ha) or more. Phosphorus serves several essential functions in plant development.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Onion and tomato cultivation are prominent in Argentina's thriving horticultural industry
- The average nutrient application rates are anticipated to grow, driven by widespread micronutrient deficiencies
- Rapeseed cultivation predominant in the consumption of secondary macronutrients in the country
- The Argentine government has allocated funding for irrigation projects and infrastructure development to support the country's agricultural sector
- The growing need to address nutrient deficiency in soil and improve production expected to fuel the growth of the market
- Nitrogen is the second-highest applied primary nutrient to horticultural crops, with 353.8 kg/hectare on average
- Magnesium has the highest requirement among secondary macronutrients in the country's horticulture industry
