OCP Group SA increased sales in January by 17%, reaching more than MAD6.2 billion (approximately $615 million at current exchange rates) compared with January 2023, according to a report by Morocco World News, citing the country’s Office des Changes.
OCP’s phosphate exports are bouncing back after a tough 2023, which saw declining sales reflecting lower global prices for phosphate-based products after an exceptional year in 2022 marked by record prices for phosphates.
OCP reported a 20% drop in revenues for the year ended Dec. 31, 2023, to MAD91.28 billion from MAD114.57 billion in 2022 (GM March 1, p. 27).