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Why Rock Phosphate Egypt Has A Booming Market In The Present Scenario
Egypt is well known for its huge reserve of rock phosphates. Of late the market of rock phosphate in Egypt is booming. In result the Egyptian producers are now dominating the phosphate market of the world.
Only a few years back even the rock phosphate Egypt did not make stirs in the international market. The situation continued even after the initiation of the well known phosphate project named Abu Tartour for nearly three years. However, of late there has been resurgence in the market in respect of demands for rock phosphate in Egypt and this has lead to virtual domination of the market by the Egyptian companies.
Changes in the Market:
In recent times there have been quite significant changes in the rock phosphate market all over the world.
There is now a big demand in the market for Egypt rock phosphate.
In addition; there have been some unprecedented increases in price of these products.
Such situation has resulted from declination of the Chinese authorities in export of rock phosphate. Until now they were the largest suppliers of rock phosphate.
On turn it has brought the focus on the Egyptian suppliers for rock phosphate and Silica Sand in Egypt
Recent Price Hike:
In addition to considerable growth in demand for the rock phosphates there has also been a corresponding growth in the price of the products.
The price that was only $40 a tonne has now gone up several times in the range of $350-$360 a tonne.
Decision of China to cut down its exports for meeting the demands of their own industrial sectors has resulted in such price hike in the cost of rock phosphate and silica sands.
Relegation of China as a supplier of rock phosphate has resulted in the rise of Egypt to the top spot as the supplier and almost every country in the world is now looking forward to them for meeting their requirements of rock phosphate and silica sands.
Encouraged by such transformation in the rock phosphate market, the Egyptian authorities are taking several initiatives to make the deals more profitable in nature. One such initiative is the Abu Tartour project that lies around 50 km west of the EL Kharga. The location is about 650 km from the capital city of Cairo. With the mines and beneficiation plants in place the project is likely to make the production, marketing, and export of Rock Phosphate Egypt grow considerably. The only problem in this regard is the growing public speculations as well as concerns about the project. Plan that has been put in place indicate that the infrastructure created shall be used to produce more Egypt rock phosphate and in addition; the project will also focus on the production of phosphoric acids and the fertilizers.
Commensurate to the rise in demands and prices of the rock phosphate and silica sand in the market some high quality suppliers have emerged in the scenario like the ITC Int Traders that are taking care of providing high quality rock phosphate and silica sands to various buyers.
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