Morocco announced on Wednesday the acquisition of 50% of the capital of Spanish phosphate company Global Feed. Morocco has the largest phosphate reserves, with an estimated 85% of global reserves.
The Kingdom is the second largest producer of phosphates, with about 30 million tons per year, and the first exporter of phosphate in the world. The company's turnover reached $11.3 billion in 2022, and it is the world leader in phosphate products, according to a statement from the OCP Group (a state company)