Loading…
OCP's full-year 2016 results showed revenue down 11% to MAD 42.5 billion (US$4.3 billion) as fertilizer prices fell 23% amid a glut linked to high Chinese exports. EBITDA fell to US$1.3 billion and the EBITDA margin dropped to 30%, while the specialty products segment grew 45%.
Management said the phosphate market is hitting the bottom of the cycle and that prices rose at the end of 2016.
Persistent oversupply from Chinese exports has pressured phosphate prices, but signs of a bottom and firmer import demand point to a possible modest recovery in DAP costs.
egypt-today.comRabatMar 25, 2017
moroccoworldnews.comyousra-acherquiMar 24, 2017Not 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.
