they need to cover 5.5 billion this year in subsidies for grain and oil. So the poorest 20% can live.
This will keep increasing no matter what the price of phosphate rock is. cheap fertilizer wont reduce oil and grain.
I reckon you could say min 7 billion / max 10 billion in 2012 for the subsidy.
Assuming 10 billion and 50 million tonnes of RP produced
That puts the cost of the subsidy at 200 US/t of phosphate exported + 40 bucks production costs + 20 bucks new investment costs.
I think the moroccan government need $260 US/t to cover feeding their people
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they need to cover 5.5 billion this year in subsidies for grain...
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