Salt

Salt, also known as sodium chloride, is a chemical compound and is an essential element in the diet of humans, animals, and even many plants. Since prehistoric times, salt has been used to preserve foods and was commonly used in the religious rites of the Greeks, Romans, Hebrews, and Christians. Salt, in the form of salt cakes, served as money in ancient Ethiopia and Tibet. As long ago as 1450 BC, Egyptian art shows records of salt production.

Evaporation of salt water from areas near oceans or seas is the simplest method of obtaining salt. In most regions, rock salt is obtained from underground mining or by wells sunk to the deposits. Salt is soluble in water, is slightly soluble in alcohol, but insoluble in concentrated hydrochloric acid. In its crystalline form, salt is transparent and colorless, shining with an ice-like luster.

Prices – Salt prices in 2002 (vacuum and open pan, FOB mine) were unchanged from 2001 at $120.02 per ton, sustaining the recovery from the weak prices seen in 1999-2000 of $112.49 and $113.95, respectively.

Supply – World production of salt in 2002 fell –3.2% to 210.000 million metric tons from the record high of 217.000 million metric tons in 2001. The world’s largest salt producers are the US with 19.2% of world production, China (15.6%), Germany (7.5%), India (6.9%), and Canada (5.9%). US production in 2002 fell -10.0% to 40.300 million metric tons from 44.800 million in 2001.

Demand – US consumption of salt in 2002 fell –16.5% to 45.100 million metric tons from the record high of 54.000 million metric tons in 2001.

Trade – The US relied on imports for 18% of its salt consumption in 2002, up from 17% in 2001. US imports of salt for consumption in 2002 fell 37% to 8.160 million metric tons. US exports of salt were 689,000 metric tons in 2002, with the bulk of those exports (585,000 metric tons) going to Canada.