São Paulo – Moroccan phosphate exports reached 10.2 billion dirham in the first quarter of this year, according to figures disclosed by African news agency Panapress. The value is equivalent to 894 million euros or US$ 1.3 billion.
The growth, as against the same period last year, was 55.6% in local currency. From January to March 2010, foreign sales of the product and its derivatives had reached 6.56 billion dirham, equivalent to 574 million euros or US$ 848.6 million, at current exchange rates.
Phosphoric acid exports rose 2.1% to 2.93 billion dirham (256.8 million euros or US$ 379 million) against 2.87 billion (251.5 million euros or US$ 371 million) in the same period in 2010.
Each year, Morocco produces 30 million tonnes of phosphate, on average, and, according to Panapress, has three quarters of the global reserves, estimated at 80 billion tonnes. The country is also the world’s main producer of the product, according to the agency. Over half the Moroccan production is exported to the European Union.
*Translated by Mark Ament
