A process for the manufacture of an aqueous composition that is a combination of a fungicide and fertilizer comprising the following steps: (1) dissolving phosphorous acid in phosphoric acid to form a solution of an acid mixture; (2) reacting the acid mixture of step (1) with an aqueous potassium hydroxide solution at a temperature of about 65° C. to about 260° C. in a continuous reactor while maintaining the ratio of potassium to phosphorous in various mole ratios thereby forming a reaction mixture comprising potassium phosphates, potassium polyphosphates, potassium phosphites, and potassium polyphosphites and potassium phosphate phosphite copolymers; and, (3) cooling the reaction mixture rapidly at least 1° C. to 60° C., to below about 35° C. to about 65° C. Using a similar process a composition having fungicidal properties is prepared by reaction phosphoric acid with potassium hydroxide.The reaction mixtures prepared according to each of the above processes are also part of this invention.