Morocco has made a significant leap in the Brazilian fertilizer market, ranking second globally in April with exports reaching approximately $245.7 million, according to the Brazilian Institute of Geography and Statistics (IBGE).
Morocco came behind Russia, whose exports reached over $277 million, while surpassing major international exporters such as Canada ($163.6 million) and China ($138 million), as reported in the latest data released by the IBGE.
These significant numbers reinforce Morocco’s position as an emerging, strategic partner for Brazil, Latin America’s largest fertilizer market, at a time when the global sector is experiencing turbulence due to geopolitical tensions.
“While Brazil’s imports of Russian fertilizers from major international suppliers have declined since the start of this year, Morocco has continued to strengthen its markets, benefiting from its logistical position and product quality,” the IBGE’s report said.
According to the IBGE, after accounting for 11 percent of Brazil’s total fertilizer imports, with a total value of $1.59 billion in 2022, Morocco hopes the surge in performance during April will mark a significant, lasting leap in the Moroccan-Brazilian fertilizer market after moving to second place on a monthly basis.
Rabobank, a group specializing in agricultural finance, indicated that geopolitical tensions in the Middle East have affected global fertilizer prices and created challenges for urea supply chains in particular.
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