Morocco, the world’s top exporter of phosphate and phosp hate by-products, recorded a drop of 59.5 per cent in sales in February, a gover n ment office said in a statement here.
The drop was due to the increase in prices of phosphates and its by-products on the international market.
Phosphate exports in February grossed dh 707.9 million, with the volume of expor t put at 447,400 tonnes, compared with 1.97 million tonnes at the corresponding time in 2008 (Euro 1 = 11.5dh).
The average price of the exported volume has increased from dh 866 to dh 1,582 f rom January/February 2008 to the same period in 2009.
As for phosphoric acid exports, Morocco experienced a 37% drop in export volume (88,500 tonnes against 226,700), while exports of natural and chemical fertilizers fell by 79.6%.
Morocco has enormous reserves of phosphate, representing over 50% of the known r eserved worldwide.
The kingdom has announced plans to invest about euro 4.5 billion in this sector by 2012.