Morocco Poised to Dominate European Phosphate Market as Global Prices Rise
Morocco, one of the world’s leading phosphate producers, could greatly benefit from the decline in exports from China and Russia to dominate the European phosphate fertilizer (DAP) market.
According to the World Bank’s Commodity Markets Outlook report, phosphate fertilizer (DAP) prices "are expected to increase by 9% in 2024 globally before declining in 2025 as supply recovers."
This price increase is justified by "export restrictions on phosphate from China and ammonia from Russia," the report details, noting that this situation could benefit Morocco, one of the world’s leading phosphate producers. The kingdom produced 38.1 million tons of phosphates in 2021.
Faced with this price increase that has had a negative impact on global trade, Europe "has replaced imports from China and Russia with imports from Morocco (phosphates), Egypt (ammonia), Saudi Arabia and the United States," it is noted.
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