Morocco: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Morocco

After three years of growth, the Moroccan diammonium phosphate market decreased by -38.5% to $X in 2022. In general, consumption saw a pronounced slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Diammonium Phosphate Production in Morocco

In value terms, diammonium phosphate production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt downturn. The growth pace was the most rapid in 2018 when the production volume increased by 28% against the previous year. Diammonium phosphate production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Diammonium Phosphate Exports

Exports from Morocco

Diammonium phosphate exports from Morocco surged to X tons in 2022, picking up by 27% against the previous year's figure. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 56% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, diammonium phosphate exports soared to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for diammonium phosphate exports from Morocco, with a 46% share of total exports. Moreover, diammonium phosphate exports to India exceeded the volume sent to the second major destination, Bangladesh (X tons), fourfold. The third position in this ranking was taken by Nigeria (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume to India totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+20.0% per year) and Nigeria (+52.3% per year).

In value terms, India ($X) remains the key foreign market for diammonium phosphate exports from Morocco, comprising 48% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 13% share of total exports. It was followed by Pakistan, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+26.1% per year) and Pakistan (+14.7% per year).

Export Prices by Country

The average diammonium phosphate export price stood at $X per ton in 2022, increasing by 37% against the previous year. Over the period under review, the export price saw noticeable growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 80% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Diammonium Phosphate Imports

Imports into Morocco

In 2022, after three years of decline, there was significant growth in purchases abroad of diammonium phosphate, when their volume increased by 459% to X kg. In general, imports, however, faced a dramatic downturn. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, diammonium phosphate imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a deep reduction. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X kg) was the main diammonium phosphate supplier to Morocco, with a 93% share of total imports. Moreover, diammonium phosphate imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +63.1%.

In value terms, Germany ($X) constituted the largest supplier of diammonium phosphate to Morocco, comprising 74% of total imports. The second position in the ranking was held by Spain ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +26.5%.

Import Prices by Country

In 2022, the average diammonium phosphate import price amounted to $X per ton, with an increase of 4.4% against the previous year. In general, the import price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2019 an increase of 220%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Germany stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+18.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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