Morocco’s OCP Group to Halt Fertilizer Sales in US if Duty Imposed

Morocco’s OCP Group to Halt Fertilizer Sales in US if Duty Imposed
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Morocco’s OCP Group to Halt Fertilizer Sales in US if Duty Imposed

Morocco’s OCP Group to Halt Fertilizer Sales in US if Duty Imposed

Morocco’s OCP group have plans to halt fertilizer sales in the US if the Commerce Department decides to impose an anti-subsidy duty on its products, two senior group officials said on Friday.

The US Commerce Department last week said it had opened an investigation into whether producers of phosphate fertilizers in Morocco and Russia are receiving unfair subsidies.

The investigation was launched after a petition filed by Mosaic Co, a US-based rival fertilizer company, Reuters reported.

According to the officials, the group will challenge the petition, adding that their fertilizers do not receive any form of subsidy from the state.

Last year, US imports of phosphate fertilizers from Morocco were about $729 million, with Russia weighing in at about $299 million, the department said.

“In the unfortunate event of the imposition of a countervailing duty, OCP would be able to redirect its exports towards other markets,” one of the OCP officials said, asking not to be named.

OCP’s fertilizer exports hit 9 million tonnes last year, but a drop in international prices resulted in a 3% decrease in annual revenue to $5.5 billion.



UK Economy Shrinks 0.1% in May

The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
TT
20

UK Economy Shrinks 0.1% in May

The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)
The Elizabeth Tower commonly known by the name of the clock's bell "Big Ben" is pictured before race boats from the E1 World Championship race across the River Thames, in central London on July 2, 2025. (Photo by Justin TALLIS / AFP)

Britain's economic output shrank by 0.1% in May, official data showed on Friday.

Economists polled by Reuters had mostly forecast that gross domestic product would rise by 0.1% from April's level.

Britain's economy expanded rapidly in the first quarter of 2025, outstripping growth in other countries in the Group of Seven advanced economies. In May the Bank of England revised up its full-year growth forecast to 1%.

However, much of the growth in early 2025 was likely to have been linked to the expiry of a tax break for some home purchases in April which boosted the sector before the deadline, and a rush by manufacturers to beat higher US import tariffs.

The BoE has said it thinks the economy grew by about 0.25% in the second quarter of 2025.