RABAT- The Directorate of Treasury and Foreign Finance reported a 26.4% decline in phosphate production by the end of March 2023 compared to a 11% decline during the same period last year.
According to the same source, the production of phosphate derivatives also decreased by 18.8%, with phosphoric acid production down by 19.5% and both natural and chemical fertilizers down by 18.4%.
The export of phosphate and its derivatives also went down, resulting in a 25.3% decrease in exports by the end of March 2023. This led to a 29.1% decline in phosphate sales, a 22.9% decline in both natural and chemical fertilizer sales, and a 30.8% decline in phosphoric acid sales.
Sales volume decreased by 46% for phosphate, 8.6% for fertilizers, while it increased by 6.1% for phosphoric acid.
However, there is a positive aspect to note: phosphate prices surged by a significant 84.5%, resulting in an upward trend in revenue streams despite the substantial decline in production and exports.
The phosphate and derivatives sector accounted for 16.7% of Morocco’s total exports, with exports (excluding the Phosphates) increasing by 18.7% to reach 91.2 billion dirhams by the end of March 2023.
The Moroccan Times.
