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Morocco’s OCP turnover reaches $1.79 Billion in first quarter of 2023

Morocco’s OCP Group has announced a turnover of MAD 18.2 billion ($1.79 billion) in the first quarter of 2023, according to the company’s latest financial statement.

While this figure represents a decrease from the same period last year, when sales totaled MAD 25.3 billion ($2.48 billion), the company highlighted that its sales have increased by 28% compared to the first quarter of 2021.

OCP attributed the decrease in turnover to the decline in global fertilizer prices. The drop in prices can be attributed to lower demand in most importing markets, except for Brazil and India, and a significant decrease in the prices of raw materials like sulfur and ammonia.

Link: https://www.moroccoworldnews.com/2023/05/355684/moroccos-ocp-turnover-reaches-1-79-billion-in-first-quarter-of-2023

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