Ignacio Dominguez, CEO of ADAMA. Thank you for joining me in this review of our 2022 fourth quarter and full year results together with our CFO, Efrat Nagar. I'm pleased to report that for the first time, ADAMA has crossed the threshold of $5 billion in sales, reaching $5.6 billion, an accomplishment we're very proud of. 2022 was an exceptional year with very strong demand for crop protection products. High crop commodity prices supported positive farmer profitability. Alongside this, we also experienced supply challenges and rising costs as the world faced inflationary pressures. All these led the crop protection market to grow both in nominal and real values. I'm happy to say that ADAMA grew with the market, reaching record sales and EBITDA in 2022.
Despite this momentum in the fourth quarter with a decline in active ingredient prices from China, together with the high inventory accumulated in the market, we began to be limited in our ability to offset higher costs with price increases. We will now turn over to Efrat, our CFO, to provide some highlights from our fourth quarter and full year 2022 financial results.
Thank you, Ignacio. In the fourth quarter, due to a shift in some sales in Brazil from the fourth quarter to the third quarter, we saw a slight year-over-year decline of 2% in our sales, reaching $1.3 billion. Without the impact of exchange rates, this was actually an increase of 1% in sales, driven by a 6% increase in prices and despite a 6% decrease in volumes. Adjusted EBITDA in the fourth quarter amounted to $129 million versus $207 million in the fourth quarter of 2021, impacted mainly by higher procurement, production, and logistics costs and other expenses which were all impacted by inflationary pressure as well as the negative impact of exchange rates. Higher financial expenses led to an adjusted net loss of $42 million and a reported net loss of $22 million.
In the full year of 2022, ADAMA sales grew by 16% in U.S. dollar terms and 19% in constant exchange rate terms, reaching $5.6 billion. This growth was driven by 16% higher prices and 4% volume growth. This growth was supported by the company's strong performance in all regions. Higher sales were reached in Latin America, led by Brazil, where ADAMA's innovative products continue to be well-received in the market, and in Asia Pacific, led by China, where the company's raw materials, intermediates, and fine chemical business presented strong sales. Adjusted EBITDA in the full year period was up 10% to $740 million versus $671 million in 2021. This was achieved despite the higher procurement, production, and logistics costs as well as the negative impact of exchange rate. Adjusted net income in the full year of 2022 amounted to $118 million, while the reported net income reached $96 million.
With that, I would like to turn back to you, Ignacio.
Thank you, Efrat. Looking back at 2022, we have continued to advance setting down the infrastructure for our profitable growth in the years to come. Let's review some of these accomplishments. During the year, we've launched more than 300 new products worldwide, including expanding our biosolutions portfolio. Our Araddo herbicide won Best Formulation Innovation in the 2022 Crop Science Awards. We have a strong pipeline of newly off-patent molecules coming into our portfolio, like CTPR and saflufenacil in chosen geographies. We're becoming a leader and producer of prothioconazole with three new plants for the production of this key fungicide in Israel, Brazil, and India. We've achieved record results for the production of acephate and vinclozolin at our Jinzhou site. I would also like to give you a little taste of different endeavors throughout the company promoting sustainability.
Our team in the U.S., together with S&W Seed Co., are providing solution to allow farmers to switch to sorghum, a sustainable drought-tolerant crop that requires less water, enabling regenerative farming practices. Additionally, we recently achieved reduction in carbon footprint of a high margin leading insecticide by lowering energy usage and reducing CO2 emissions while increasing production output and capacity without any investments in equipment, technology, or software. In Australia, ADAMA's high-load formulations have led to substantial savings in energy, water consumption, usage of co-formulants, packaging, storage, as well as transportation. We don't stop there. We continue to evolve with a new advanced proprietary high-load formulation technology platform, SESGAMA, recently being granted a patent. Entering 2023, we anticipate a gradual return of the crop protection market to normalization as farmer profitability continues to remain historically elevated as the high inventories in the market are depleted.
We believe that in 2023, farmers will continue to invest in crop protection products that bring them incremental value. Over the past year, ADAMA introduced many differentiated products, optimizing its offering to farmers around the globe while maintaining simplicity in doing business. We intend to continue and accelerate this in 2023 while embedding sustainability considerations in everything we do to achieve our mission to be the farmer's partner of choice. Thank you for being with us. Stay well and stay safe.