Morocco’s phosphate giant OCP put to test as Africa’s fertilizer market heats up
Al-Monitor Pro Members
Journalist and analyst specialized in North Africa
Mar. 13, 2023
Morocco’s phosphate producer, the Office Chérifien des Phosphates (OCP), has seen its turnover jump to a record Dh114.57 billion ($11.034 billion) in 2022, driven in large part by a spike in global phosphate and fertilizer prices which peaked last April. With 70% of global phosphate reserves, OCP is one of the world’s largest industry players, gobbling up some 31% of the global phosphates trade. The company operates across four continents but its expansion has been most notable in Africa. That said, other global players have also taken an interest in the African market in recent years, with fertilizer producers from countries such as Saudi Arabia and Russia now competing for a larger share of the pie, especially to the east of the continent. In this context and as price volatility looms, OCP’s dominant position, especially in Africa, will be put to the test in the coming months and years.
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