Data from the Exchange Office revealed that phosphate sales and its derivatives declined to MAD 46.87 billion at the end of August 2023, while maintaining a higher level than the levels recorded during the same period between the years 2019 and 2021.
The office explained in its latest bulletin on the monthly indicators of foreign exchange that this figure is mainly due to the decline in sales of natural and chemical fertilizers (minus 35.1%), phosphoric acid (minus 46.8%), and phosphate (minus 56.2%).
Regarding sales of the agriculture and food industries sector, according to the same source, they recorded a slight increase during the first eight months of the year 2023.
This development is mainly due to the increase in agricultural, forestry and hunting exports (plus 1.8%), but it witnessed a decline due to the decline in food industry sales (minus 2.8%).