Rabat – Peru is planning to purchase Moroccan fertilizers to rescue its agriculture inputs amid price increases and decreasing yields.
Peru’s Minister of Agrarian Development Oscar Zea announced his country’s plan to purchase fertilizers from Morocco last week, news outlet Gestion reported.
In addition to Morocco, Peru also seeks to secure fertilizers from Venezuela and Bolivia.
“There have been talks with the governments of Morocco, Venezuela, and Bolivia. Once the Emergency Decree is approved, the purchase will proceed. The logistical coordination for the transfer is already being made so that it reaches the farmers quickly,” the minister said.
Morocco is home to about 75% of the world’s reserves of phosphate rock, the mineral used to make fertilizers.
The phosphate rock can produce phosphorus, one of the three known nutrients in addition to nitrogen and potassium.
OCP Group, Morocco’s world-leading fertilizer company, and the world’s largest phosphate mining, produces binary fertilizers Di-Ammonium Phosphate (DAP), Mono-Ammonium Phosphate (MAP, and full phosphate blend triple superphosphate (TSP).
OCP boasts partners and customers worldwide, promising fertilizer products that promote “healthy plant growth and sustainably increasing crop yield and quality.”
According to recent data, Morocco’s phosphate exports almost doubled as of March 2022 compared to the same period in 2021. Specifically, the North African country’s exports of phosphates and derivatives reached $2.5 billion at the end of March this year. The change is attributed to the increase in sales of natural and chemical fertilizers.
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