Russia emerged as the dominant supplier of phosphates to Brazil , accounting for 76% of imports, up from 52% last year, a shift that came at the expense of traditional suppliers like Morocco, whose share dropped from 500,000 tons to just 158,000 tons.
The decline in Morocco’s exports is attributed to a strategic shift by major producers, as Morocco and Saudi producers focus their shipments on India and Australia, while China prioritizes its domestic market. Rising prices in the United States further limit their exports to Brazil.
Despite the recent decline, Morocco remains a major player with an estimated 75% of the world’s phosphate reserves.
While Brazil diversifies its phosphate imports, both countries seek to solidify their trade relationship. Talks are ongoing to remove Moroccan customs duties on Brazilian products, particularly agricultural goods like dairy and honey. Brazil views Morocco as a key export destination in Africa, with bilateral trade exceeding $2.6 billion in 2023.
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