Morocco: Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size in Morocco

The Moroccan mixed fertilizer market surged to $X in 2022, with an increase of 91% against the previous year. Overall, consumption saw a pronounced increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Mixed Fertilizer Production in Morocco

In value terms, mixed fertilizer production rose markedly to $X in 2022 estimated in export price. Over the period under review, production posted a prominent increase. The growth pace was the most rapid in 2016 when the production volume increased by 39%. Mixed fertilizer production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Mixed Fertilizer Exports

Exports from Morocco

Mixed fertilizer exports from Morocco totaled X tons in 2022, approximately equating the previous year's figure. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 59%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, mixed fertilizer exports soared to $X in 2022. Overall, exports posted resilient growth. The growth pace was the most rapid in 2021 with an increase of 66%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X tons), Djibouti (X tons) and Brazil (X tons) were the main destinations of mixed fertilizer exports from Morocco, with a combined 53% share of total exports. Bangladesh, Ethiopia, Argentina, the United States, Benin, Kenya, Pakistan, Spain, Tanzania and Nigeria lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tanzania (with a CAGR of +53.0%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Brazil ($X) and Djibouti ($X) were the largest markets for mixed fertilizer exported from Morocco worldwide, with a combined 48% share of total exports. Bangladesh, Argentina, the United States, Spain, Kenya, Pakistan, Nigeria, Tanzania, Ethiopia and Benin lagged somewhat behind, together comprising a further 32%.

In terms of the main countries of destination, Tanzania, with a CAGR of +61.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mixed fertilizer export price amounted to $X per ton, picking up by 33% against the previous year. Overall, the export price enjoyed notable growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 78%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Ethiopia ($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 Brazil (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports into Morocco

In 2022, approx. X tons of mixed fertilizers were imported into Morocco; growing by 3.4% against the year before. Overall, imports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 40%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, mixed fertilizer imports surged to $X in 2022. Over the period under review, imports, however, saw a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of mixed fertilizer to Morocco, accounting for a 37% share of total imports. Moreover, mixed fertilizer imports from Spain exceeded the figures recorded by the second-largest supplier, Jordan (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled -15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+39.7% per year) and Saudi Arabia (+17.0% per year).

In value terms, Spain ($X) constituted the largest supplier of mixed fertilizers to Morocco, comprising 44% of total imports. The second position in the ranking was held by Jordan ($X), with a 16% share of total imports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+43.7% per year) and Saudi Arabia (+17.5% per year).

Import Prices by Country

The average mixed fertilizer import price stood at $X per ton in 2022, growing by 82% against the previous year. Over the period under review, the import price enjoyed a strong expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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