São Paulo – Morocco has significantly increased its exports to Brazil after the entry of OCP, the Moroccan state owned phosphate company, in the capital of an important Brazilian fertilizer distributor, Yara International group, according to an article published by newspaper La Vie Éco, according to which Brazil became Morocco’s third main trade partner in 2012.
Yara, a Norwegian company, and OCP created a joint venture in Brazil, in late 2011, to import phosphate rock for production of superphosphate. Through the agreement, the Moroccan company took over 50% of a terminal and a factory that Yara has in Rio Grande do Sul.
According to the Moroccan publication, Brazil only lost to France and Spain last year in terms of imports from the Arab country, with 10 billion dirham (US$ 1.18 billion, at current exchange rates). The total represents 5.6% of the total exported by Morocco. Brazil overtook India, the United States and Italy. China, according to La Vie Éco, is also growing in the ranking.
Figures disclosed by Brazil’s Ministry of Development, Industry and Foreign Trade show evolution in Brazilian imports from Morocco. According to the Ministry, the Arab country had revenues of US$ 665 million with sales from Brazil in 2010, rising to US$ 1.19 billion in 2011 and to US$ 1.28 billion last year. Morocco is Brazil’s 32nd main supplier.
The main products that Morocco exports to Brazil are fertilizers and their inputs. The sector is an important source of income for the Arab country, together with tourism and manufactured product industry. Due to expanding agriculture, Brazil is currently dependent on the import of fertilizers.
*Translated by Mark Ament
