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OCP Group reported first-quarter 2023 turnover of MAD 18.2 billion ($1.79 billion), down from MAD 25.3 billion a year earlier. The company attributed the decline to lower global fertilizer prices, weaker demand in most importing markets except Brazil and India, and lower sulfur and ammonia costs.
Gross margin and EBITDA also fell sharply.
Lower fertilizer prices and weaker import demand point to softer phosphate fertilizer pricing for buyers, although Brazil and India remain supportive demand centers.
moroccoworldnews.commariya-sahnouniMay 29, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
