Phosphate prices sky rocketing
For many years, the international market valued one tonne of phosphate rock to around 50-60 dollars. On the back of a rapidly increasing world demand, the value of the same tonne is now approaching an astonishing 400 dollars.
In May 2008, the central bank of Morocco, Bank Al-Maghrib, issued an analysis of the international phosphate prices and its effect on Moroccan trade balance in its First Quarter report on the economic, monetary and financial situation of the Moroccan Kingdom.
Download the report here, and check out page 12. The graph you look for is the red one, "Phosphate brut", indicating unprocessed phosphate rock. This kind of phosphate is the one being exported from occupied Western Sahara.
With today's phosphate prices, it means that the Moroccan government earns around 1,2 billion dollars annually on the illegal industry in the occupied territory. The last 3 years, the production from the plant in Bou-Craa has been around 3 million tonnes.
If one applies today's phosphate prices to the total phosphate volume exported by Morocco from the occupied Western Sahara since the occupiation in 1975 (and estimates an average annual production of 2 million tonnes) it could amount to around 25,6 billion dollar loss for the Sahrawi people.
The report says that the total foreign exports from the Kingdom of Morocco during the first quarter of 2008 have increased with 7,7%. "The increase of the exports is almost exclusicely due to the 42,5% growth -or 2 billion dirham- of sales of phosphates and derivates", the report reads.
http://www.wsrw.org/index.php?parse_news=single&cat=105&art=735
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