Moroccan Phosphate Transactions Up by 17%

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After recording a drop in 2014, Moroccan sales of phosphate have recovered, as sales figures increased in the first seven months of 2015 by 17 % compared to the similar time in 2014, according to latest statistics.

Moroccan Phosphate Transactions Up by 17%

Moroccan Phosphate Transactions Up by 17%

It has been revealed that the sales up to MAD 25.4 billion between January and July 2015, compared to MAD 21.7 in the similar period last year.

The information added that phosphate sales have considerably added to an upsurge in Moroccan worldwide exports in the first seven months of 2015, which amplified by 6.3%.

Previously statistics which has been released in March stated that the rise of phosphate sales diminished Morocco’s trade arrears by 37.2%.

The trade gap reduced to MAD 20.5 billion by the end of February 2015, compared to MAD 32.64 billion in prior year.

The Office Cherifien de Phosphate (OCP), the world’s primary phosphate exporter, exported MAD 5.2 billion value of phosphates by the end of February 2015.

OCP is aiming a yearly phosphate rock production of 47 million tons by 2017, against the existing level of 34 million tons.

The firm averred that fertilizer production is approximated to get 10 million tons in 2017, formulating it the world’s top producer.

OCP dominates 36% of the worldwide raw phosphate market, and 50% of the sales of phosphoric acid. It also manages 70% of the world’s phosphate reserves.

Mohamed Dekkak

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