News
10/02/25
Indonesian, Malaysian MOP, NPK imports rise in 2024
Singapore, 10 February (Argus) — A global palm oil rally in 2024 improved
affordability for Indonesian and Malaysian plantations, pushing up MOP and NPK
imports in the countries to three-year highs in 2024. Indonesia's MOP imports
rose by about 44pc on the year to 3.44mn t, with increased deliveries from its
key suppliers, according to the latest GTT data. Arrivals from Canada doubled to
1.26mn t from a year earlier. Imports from Russia and Belarus also increased to
1.2mn t and 245,000t, up by 42pc and 69pc respectively from a year earlier.
Arrivals from Uzbekistan, likely representing product from Belarus, accounted
for 406,500t, up by 23pc on the year. NPK deliveries to Indonesia hit 370,800t
in 2024, up by 6pc from a year earlier. Around 177,000t of the total imports
were sourced from Russia, with 93,000t from Norway. Malaysian MOP imports
totalled 1.64mn t in 2024, close to a 20pc increase from 2023. Deliveries from
its top supplier Russia reached a record high of 852,000t, up by about 56pc on
the year. Arrivals from Canada were flat at 381,000t but imports from the US —
which also represents Canadian product shipped from a US port — quadrupled to a
20-year high of 142,200t. The increase in deliveries from the US can be
attributed to Canpotex's terminal in Portland, Oregon, resuming potash loadings
at the start of 2024 after operations were halted in May 2023. Malaysia's NPK
imports rose by about 25pc to 166,500t in 2024, with significant rises in
deliveries from its key exporting partners. Arrivals from China rose to 42,000t,
up by nearly 35pc from a year earlier, while deliveries from the Netherlands
nearly doubled to 28,200t. Palm oil output in Indonesia, the world's top
producer, is forecast to grow by nearly 2pc in 2025, according to a Reuters
poll, in order to meet the growing demand for palm oil-based biodiesel with a
planned increase in the mandatory mix of palm oil in biodiesel in the country in
February. This is expected to boost demand for MOP and complex fertilizers,
which should continue to support affordability in 2025. The increase in the
Indonesian biodiesel mandate is also likely to limit exports from the world's
top producer and push Malaysian crude palm oil prices higher in 2025, after
hitting a two-year high in 2024. Malaysia is the world's second largest palm oil
producer. But adverse weather, persistent labour shortages and low replanting
rates may limit production in 2025, officials said. By Camila Tay Malaysian MOP
imports 2024 (t) Russia Canada United States Jordan Others YTD January 45,001
59,090 27,500 4,705 4,845 141,141 February 40,000 40,596 5,724 11,000 3,672
100,992 March 67,946 27,495 16,000 2,462 6,603 120,506 April 51,889 47,776 0
2,986 6,629 109,280 May 37,804 38,000 17,018 21,208 38,649 152,679 June 47,913
21,501 17,018 13,898 22,216 122,546 July 100,586 21,979 0 2,007 3,570 128,142
August 65,989 54,048 27,977 4,461 4,781 157,256 September 90,780 15,987 0 6,316
4,285 117,368 October 175,642 21,906 30,890 29,667 12,258 270,363 November
56,476 38 68 3,005 9,273 68,860 December 71,965 33,001 0 23,825 26,596 155,387
Total 851,991 381,417 142,195 125,540 143,377 1,644,520 Source: GTT Indonesian
MOP imports 2024 (t) Canada Russia Belarus Laos Others YTD January 143,565
26,000 44,100 12,455 66,458 292,578 February 85,968 85,577 27,508 9,930 60,391
269,374 March 201,828 84,798 0 26,899 43,532 357,057 April 76,856 115,897 10,000
12,203 52,943 267,899 May 119,413 109,895 32,276 25,291 37,142 324,017 June
110,924 77,980 7,995 13,846 2,655 213,400 July 193,302 189,443 0 16,008 2,151
400,904 August 139,323 98,408 19,676 34,092 105,874 397,373 September 0 91,673
40,739 4,201 36,175 172,788 October 46,427 120,395 16,700 17,658 53,071 254,251
November 43,974 66,189 16,480 5,216 49,088 180,947 December 96,907 132,418
29,453 9,989 41,237 310,004 Total 1,258,487 1,198,673 244,927 187,788 550,717
3,440,592 Source: GTT Send comments and request more information at
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