Xinhuanet
Source: Xinhua
Morocco’s phosphates turnover hiked by 14 percent in 2017 to reach 4.8 billion U.S. dollars despite the declining prices in international markets.
Morocco’s state-owned Office Cherifien de Phosphate (OCP) revenues from phosphates rock sales increased by 40 percent, while the group’s revenues from selling fertilizers grew by 24 percent compared with 2016, the company pointed out in a statement Friday.
In 2017, fertilizer sales made 54 percent of the company’s total turnover, while phosphate rock and phosphoric acid accounted for 21 percent and 15 percent respectively.
OCP’s exports to other African nations jumped by 50 percent to 2.5 million tons in 2017 from 1.7 million tons in 2016.
Morocco is one of the world’s largest phosphate producers. According to the United States Geological Survey, Morocco has the largest phosphate rock reserves in the world, accounting for approximately 75 percent of worldwide estimates.
