Phosphate is mainly used in the form of fertilizer for crops and animal feed supplements. Only 5 percent of world phosphate production is used for other applications, such as corrosion prevention and detergents.
Demand for phosphate fertilizers had created a US$54.6 billion market by 2023, and that figure is expected to grow at a compound annual growth rate of 5.3 percent through 2030 to reach US$78.4 billion.
“World consumption of P2O5 contained in fertilizers was estimated to have been 45.7 million tons in 2023 compared with 43.8 million tons in 2022,” the USGS reported. “World consumption of P2O5 in fertilizers was projected to increase to 50 million tons by 2027. The leading regions for growth were expected to be Asia and South America.”
This list of the top phosphate countries by production is based on data from the USGS. Those interested in the phosphate mining sector will want to keep an eye on phosphate production data and mining companies in these countries.
Mine production: 90 million metric tons
China’s phosphate production decreased in 2023 to 90 million metric tons (MT), down from 93 million MT in 2022, but it is still first on the list of top phosphate-producing countries by a long shot. The drop in Chinese output is likely a result of the nation’s environmental crackdown on the mining industry.
Mine production: 35 million metric tons
As the second largest phosphate-producing country, Morocco produced 35 million metric tons of the fertilizer in 2023, down from 39 million MT in the previous year. The North African nation’s phosphate output is expected to increased in the coming years due to ongoing capacity expansions, which are expected to be completed by 2026.
Morocco holds the world’s largest phosphate reserves at 50 billion metric tons, accounting for over 67 percent of total global phosphate reserves.
Mine production: 20 million metric tons
Most phosphate rock mined in the US is used for manufacturing phosphoric acid and superphosphoric acid. These types of wet-process phosphate products are used for items such as animal feed supplements. About a quarter of this is exported in the form of merchant-grade phosphoric acid, upgraded granular diammonium and monoammonium phosphate fertilizer, as well as other fertilizer products, according to the USGS.
Mine production: 14 million metric tons
Russia’s phosphate output in 2023 was on par with the previous year, coming in at 14 million metric tons. As per the US Geological Survey, the country has phosphate reserves of 2.4 billion MT. Russia is also the second largest producer of potash.
Mine production: 12 million metric tons
Jordan’s phosphate mining output rose slightly from the previous year, coming in at 12 million metric tons in 2023. Its phosphate reserves stand at an estimated 1 billion MT.
Mine production: 8.5 million metric tons
Saudi Arabia produced 8.5 million metric tons of phosphate last year, down by 500,000 MT from 2022’s output level. The country is sitting on 1.4 billion MT of phosphate reserves.
The Saudi Arabian Mining Company, also known as Ma’aden, produces up to 5 million MT of concentrated phosphate rock per year.
Mine production: 5.3 million metric tons
Brazil, another of the top phosphate countries by production, produced 5.3 million metric tons of phosphate in 2023 compared to 6.2 million MT in 2022. Brazil has a booming agricultural sector and is one of the world’s largest fertilizer consumers and importers.
Mine production: 4.8 million metric tons
Egypt’s phosphate-mining production in 2023 was 4.8 million metric tons, down 200,000 MT from 2022 output levels. According to the US Geological Survey, Egypt’s phosphate reserves now sit at 2.8 billion MT.
The phosphate company Misr Phosphate operates the Abu Tartour, the Sibaiya and the Red Sea mines, all of which host high grades.
Mine production: 4 million metric tons
Peru’s phosphate output of 4 million metric tons in 2023 was on par with the previous year. About 98 percent of US phosphate imports originate from Peru.
Mine production: 3.6 million metric tons
Tunisia’s phosphate output in 2023 was nearly on par with the previous year, coming in at 3.6 million metric tons. Tunisia is home to the fourth highest phosphate reserves in the world at 2.5 billion MT.
Phosphates are compounds that usually include phosphorous and oxygen, and can have one or more common elements, such as sodium, calcium, potassium and aluminum.
Phosphate is mostly found in phosphate rock, a non-detrital sedimentary rock that contains high amounts of phosphate minerals. Phosphate rock can come in different forms such as quartz, calcite, dolomite, apatite, iron oxide minerals and clay minerals.
Phosphate is the natural source of phosphorous, which provides essential nutrients for plant growth and development.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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