Morocco’s OCP SA responded to today’s U.S. International Trade Commission decision that will result in a 19.97 percent countervailing duty on phosphate fertilizer imports from Morocco, by saying that despite the decision, it recognizes the supply challenges that American farmers face and is determined to serve them in the future, and will explore the most appropriate options to do so.
The Mosaic Co., Tampa, has responded to the U.S. International Trade Commission decision announced today that determined that subsidized phosphate fertilizer imports from Morocco and Russia have materially injured the U.S. phosphate industry.
“Mosaic employees are proud to support American farmers by producing high quality, reliable fertilizer,” said Mosaic President and CEO Joc O’Rourke. “Today’s decision upholds our belief that fair trade is a cornerstone of a healthy U.S. economy, and that American farmers will benefit from having a more competitive American fertilizer industry.”
As a result of this ruling, the U.S. Department of Commerce will issue countervailing duty orders on phosphate fertilizers from Russia and Morocco, which will remain in place for at least five years. The cash deposit rates for such imports are expected to be approximately 20 percent for Moroccan producer OCP, 9 percent and 47 percent for Russian producers PhosAgro and EuroChem, respectively, and 17 percent for all other Russian producers.
The U.S. International Trade Commission has made affirmative determinations in its final phase countervailing duty investigations concerning Phosphate Fertilizers from Morocco and Russia.
The Mosaic Co. said March 11 that its Board of Directors has approved an increase to the company’s annual dividend target to $0.30 from $0.20 per share with the next effective declaration, which is expected to be in May 2021.
K+S Group, Kassel, reported strongly negative adjusted group earnings after tax of €-1.8 billion for full year 2020, largely attributable to a final impairment loss as of Dec.31, 2020, of €1.86 billion. This impairment loss was confirmed with an unqualified audit opinion on March 9.
The group posted a 31 decline in full-year 2020 EBITDA to €445 million, while revenue fell 9 percent to €3.7 billion. Sales volumes in the Agriculture customer segment increased by 1 million mt to 7.3 million mt in 2020, while Bethune, Saskatchewan, produced almost 2 million mt of potash.
K+S expects the closing of the sale of the Americas salt business by this summer “at the latest”.
The group said it will not pay a dividend for the 2020 financial year.
