Complex Made Simple

Jordan’s JPMC seeking new customers to increase exports

Jordan Phosphate Mines Co (JPMC), the second largest exporter of phosphate and fifth-largest producer globally, has announced it has won a $100m contract to export Diammonium phosphate (DAP) to Ethiopia, despite "strong competition from many countries," Jordan Times has reported. The company sold phosphate to Ethiopia at "slightly below cost price" in order to re-enter the Ethiopian market lost in a tender last year due to high competition from neighbouring countries, JPMC chief executive, Emad Madadha said. The company is eyeing new customers to increase its exports and will soon sign memoranda of understanding to open more factories, according to JPMC chairman, Amer Majali. "We eye new markets such as Australia, Pakistan, Turkey, Malaysia and others because we do not want to be largely dependent on the Indian market only," Majali said.