Company: SQM
Filing Date: 2025-04-24
Form Type: 20-F
Source: 0000909037-25-000020
Chunk: 141

Company: CHEMICAL & MINING CO OF CHILE INC
Filing Date: 2025-04-24
Form: 20-F
Item: Item 5
Chunk 141
---
 from our Specialty Plant Nutrition business line for the twelve months ended December 31, 2024 totaled US$941.9 million, a slight increase when compared to US$913.9 million reported for the twelve months ended December 31, 2023. Set forth below are sales volume data for the specified years by product category in this product line:

(in Th. MT)                                                2024              2023                % Change
Specialty Plant Nutrition Total Volumes                   982.9             840.2                 17    %
Sodium nitrate                                             12.5              16.8               (26)    %
Potassium Nitrate and Sodium Potassium Nitrate            534.0             443.5                 20    %
Specialty Blends                                          276.7             243.4                 14    %
Other specialty plant nutrients (*)                       159.7             136.5                 17    %
________________________________________________
*Includes trading of other specialty fertilizers.
In 2024, Specialty Plant Nutrition sales volumes grew by approximately 17% compared to the previous year, reaching nearly 983 thousand tons. However, our average realized price for the year decreased by around 12% compared to 2023, from US$1,088 per metric ton to US$958 per metric ton, resulting in moderate revenue growth for this business line, at approximately 3% year-over-year.
We estimate that the potassium nitrate market, excluding internal production and consumption in China, grew by 17%, returning to 2021 levels. For 2025, we anticipate market growth of around 4-5%, with prices remaining similar to those observed during the second half of 2024.
Iodine and Derivatives
Revenues from sales of iodine and derivatives during the twelve months ended December 31, 2024, totaled US$968.3 million, an increase of 8.5% compared to US$892.2 million reported for the twelve months ended December 31, 2023. Set forth below are sales volume data for the specified years:

(in Th. MT)                              2024              2023                % Change
Iodine and derivatives                   14.5              13.1                 11   % 
In 2024, our sales volumes grew by 11%, achieving record-high sales volumes of more than 14.5 thousand metric tons of iodine, including its derivatives. We estimate that the