Morocco: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Morocco

The Moroccan potassium sulphate (SOP) market expanded notably to $X in 2022, increasing by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2020 indices. Potassium sulphate (SOP) consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Potassium Sulphate (Sop) Exports

Exports from Morocco

In 2022, after two years of decline, there was significant decline in overseas shipments of potassium sulphate (SOP), when their volume decreased by -49.5% to X tons. In general, exports showed a mild decline. The most prominent rate of growth was recorded in 2019 with an increase of 391%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports reduced to $X in 2022. Overall, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 443%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal (X tons) was the main destination for potassium sulphate (SOP) exports from Morocco, with a 71% share of total exports. Moreover, potassium sulphate (SOP) exports to Senegal exceeded the volume sent to the second major destination, Mauritania (X tons), threefold.

From 2015 to 2022, the average annual growth rate of volume to Senegal stood at -4.9%.

In value terms, Senegal ($X) emerged as the key foreign market for potassium sulphate (SOP) exports from Morocco, comprising 75% of total exports. The second position in the ranking was taken by Mauritania ($X), with a 25% share of total exports.

From 2015 to 2022, the average annual rate of growth in terms of value to Senegal stood at +7.7%.

Export Prices by Country

In 2022, the average potassium sulphate (SOP) export price amounted to $X per ton, with an increase of 81% against the previous year. Overall, the export price saw a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Mauritania totaled $X per ton.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mauritania (+16.1%).

Potassium Sulphate (Sop) Imports

Imports into Morocco

In 2022, purchases abroad of potassium sulphate (SOP) decreased by -20% to X tons, falling for the second year in a row after three years of growth. Over the period under review, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -37.0% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 45% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports soared to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 48% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Egypt (X tons), Belgium (X tons) and Sweden (X tons) were the main suppliers of potassium sulphate (SOP) imports to Morocco, together accounting for 91% of total imports. Saudi Arabia, Jordan and Germany lagged somewhat behind, together accounting for a further 7%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +94.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest potassium sulphate (SOP) suppliers to Morocco were Egypt ($X), Belgium ($X) and Sweden ($X), with a combined 93% share of total imports. Saudi Arabia, Jordan and Germany lagged somewhat behind, together accounting for a further 5.4%.

Among the main suppliers, Saudi Arabia, with a CAGR of +108.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potassium sulphate (SOP) import price stood at $X per ton in 2022, picking up by 78% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) import price increased by +108.0% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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