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RABAT, Sept 23 (Reuters) - The world's largest phosphate exporter, Morocco's Office Cherifien de Phosphate (OCP) on Friday reported a 23.2 percent fall in first-half net profit to 3.07 billion dirham ($316.89 million) hit by low prices.

It said prices of phosphate rock, an essential ingredient for producing fertiliser, stood at around $115 a tonne in the first six months of 2016, down from about $124 in 2015.

Revenue fell to 21.65 billion dirhams from 24 billion.

State-run OCP, a major earner of foreign currency for Morocco, has been raising output in recent years to help offset a slide in prices.

It aims to raise output to 47 million tonnes of crude phosphate rock in 2017 from about 34 million tonnes in 2014.

It is also targeting an increase in fertiliser production to 12 million tonnes by 2017 to become the world's leading producer from 7 million in 2014.

OCP raised $1 billion via an international bond last year. Its debut international bond in 2014 raised $1.55 billion to finance investment including a series of acquisitions.

OCP in 2014 agreed to buy U.S.-based Bunge's 50 percent stake in their Moroccan fertiliser joint venture Bunge Maroc Phosphore S.A. for an undisclosed amount.

It has also signed an agreement to buy a 10 percent stake in Brazil-based company Fertilizantes Heringer S.A for 145 million Brazilian real ($38 million).

($1 = 9.6880 Moroccan dirham)

(Reporting by Aziz El Yaakoubi; editing by Susan Thomas and Jason Neely) ((aziz.elyaakoubi@thomsonreuters.com; +212623934595)(;))

Keywords: OCP RESULTS/