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OCP, Morocco's state phosphate producer, reported first-half 2022 turnover of 56 billion dirhams, up 72% year on year. Second-quarter turnover rose to 30.69 billion dirhams from 18.19 billion in the first quarter.
The company attributed the gain to a higher global phosphate selling price after the Russian invasion of Ukraine.
Phosphate prices at multi-year highs, driven by strong Indian and Latin American demand and Chinese and Russian export restrictions, raise the cost of phosphate-based fertilizer for crop producers.
en.bladi.netBetty de G.Sep 2, 2022Not 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.
