The Moroccan Office Chérifien des Phosphates (OCP), one of the world’s leading exporters of this mineral, achieved a turnover of 56 billion dirhams (5.2 billion euros) in the first half of 2022, an increase of 72% compared to the same period in 2021.
The Moroccan phosphate giant OCP is providing its expertise to Ethiopia, which aims to build its own fertilizer plant. However, it is being challenged by a Turkish company.
Revelations have been made about how the American fertilizer group Mosaic succeeded in excluding the Moroccan group OCP from the American fertilizer market under the Trump administration.
The first half of 2022 saw a surge in Moroccan exports of phosphates and derivatives.
Morocco wants to improve the use of fertilizer in agricultural production in Africa. In this sense, the Office Chérifien des Phosphates (OCP) has decided to make a significant quantity of fertilizer available to many countries in order to support agricultural performance.
The OCP Group has announced that it has obtained the support of the Multilateral Investment Guarantee Agency (MIGA), a World Bank Group entity, for the guarantee of loans financing a new UM6P campus in Rabat.
Morocco, through the OCP group, has made a major donation of DAP fertilizers to Rwanda, to help increase its agricultural productivity at a time when fertilizer costs are high.
Faced with the famine threatening Africa due to the war in Ukraine, the Office Chérifien des Phosphates (OCP), the Moroccan giant of phosphates, and the African Development Bank (AfDB), are discussing emergency fertilizer supply to West Africa.
The good performance recorded at the end of 2021 for OCP continues. The group announces revenues of 25.32 billion dirhams in the first quarter of the year, compared to 14.28 billion dirhams achieved in the same period last year, an all-time high of 77%.
The OCP group wants to strengthen its activities in Brazil. The construction of a unit is planned for the transformation of its products directly on site.
At the end of 2021, the accounts of the OCP group generated a record profit of 16.3 billion dirhams (MMDH), compared to only 3.4 billion dirhams a year earlier.
Members of the U.S. Congress have called on the International Trade Commission to cancel the countervailing duties imposed on Moroccan natural phosphate.