they need to cover 5.5 billion this year in subsidies for grain...

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