Morocco: Peat Market 2022

Peat Market Size in Morocco

The Moroccan peat market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption enjoyed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Peat Exports

Exports from Morocco

In 2021, exports of peat from Morocco declined rapidly to X tons, with a decrease of -23.3% compared with 2020 figures. In general, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 168% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, peat exports dropped sharply to $X in 2021. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 111%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Senegal (X tons) was the main destination for peat exports from Morocco, accounting for a 72% share of total exports. Moreover, peat exports to Senegal exceeded the volume sent to the second major destination, Mauritania (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Senegal stood at +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (+46.4% per year) and Gabon (0.0% per year).

In value terms, Senegal ($X), Mauritania ($X) and Gabon ($X) appeared to be the largest markets for peat exported from Morocco worldwide, with a combined 99% share of total exports.

Mauritania, with a CAGR of +53.2%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 peat export price stood at $X per ton in 2021, surging by 4.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 58%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Mauritania ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Peat Imports

Imports into Morocco

After two years of decline, supplies from abroad of peat increased by 88% to X tons in 2021. Over the period under review, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, peat imports surged to $X in 2021. Overall, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Lithuania (X tons), Estonia (X tons) and Sri Lanka (X tons) were the main suppliers of peat imports to Morocco, together accounting for 57% of total imports. These countries were followed by India, France, Spain, Latvia, Germany and the Netherlands, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were in France (with a CAGR of +90.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X), India ($X) and Lithuania ($X) were the largest peat suppliers to Morocco, with a combined 61% share of total imports. These countries were followed by Estonia, Spain, France, Latvia, Germany and the Netherlands, which together accounted for a further 38%.

France, with a CAGR of +95.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average peat import price amounted to $X per ton, jumping by 34% against the previous year. In general, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 80% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Sri Lanka ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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