Morocco: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Morocco

The Moroccan NPK fertilizer market soared to $X in 2022, picking up by 380% against the previous year. Overall, consumption continues to indicate a moderate expansion. Consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Npk Fertilizer Production in Morocco

In value terms, NPK fertilizer production rose to $X in 2022 estimated in export price. Overall, production, however, showed strong growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 30% against the previous year. Production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Npk Fertilizer Exports

Exports from Morocco

In 2022, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -50.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 14,041% against the previous year. The exports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, NPK fertilizer exports reduced dramatically to $X in 2022. In general, exports, however, posted a significant increase. The growth pace was the most rapid in 2013 with an increase of 4,766%. The exports peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

Benin (X tons), Cote d'Ivoire (X tons) and Mozambique (X tons) were the main destinations of NPK fertilizer exports from Morocco, with a combined 56% share of total exports. Spain, Guinea, Ghana, Lithuania, Senegal, Romania, Angola, Poland, Togo and France lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +249.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for NPK fertilizer exported from Morocco were Benin ($X), Cote d'Ivoire ($X) and Mozambique ($X), with a combined 54% share of total exports. Guinea, Lithuania, Ghana, Romania, Angola, Spain, France, Poland, Senegal and Togo lagged somewhat behind, together accounting for a further 36%.

Guinea, with a CAGR of +297.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, jumping by 72% against the previous year. In general, the export price, however, recorded a abrupt slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Spain ($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 Romania (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Morocco

In 2022, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -25.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 104%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, NPK fertilizer imports surged to $X in 2022. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 61% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of NPK fertilizer to Morocco, with a 36% share of total imports. Moreover, NPK 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 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at -15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+44.2% per year) and Saudi Arabia (+11.6% per year).

In value terms, Spain ($X) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Morocco, comprising 43% of total imports. The second position in the ranking was taken by Jordan ($X), with a 16% share of total imports. It was followed by Saudi Arabia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain totaled -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+45.5% per year) and Saudi Arabia (+11.5% per year).

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, picking up by 63% against the previous year. Over the period under review, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 77%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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