Low fertiliser prices cut OCP’s 2016 earning
Published: Friday, 24 March 2017
The world’s largest phosphate producer, OCP, reported lower Q4 and 2016 revenue but the company believes the market has bottomed out and demand will remain strong owing to stable crop fundamentals.
Revenue at Moroccan state-owned Office Cherifien des
Phosphates (OCP) declined by 12% year-on-year in 2016 as low
fertiliser prices cut earnings.
The producer believes the phosphate market has bottomed out,
OCP reported 2016 full-year revenue at $4.3bn, down $600m
from $4.9bn in 2015, while EBITDA fell 28%...