info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Moroccoworldnews
OCP Group, a global leader in phosphate-related industries, made a turnover exceeding MAD 26.65 billion ($2.79 billion) in the fourth quarter of 2021.
The number represents a substantial increase of MAD 14.49 billion ($1.51 billion) compared to the same quarter in 2020.
OCP attributes the performance to the “favorable market conditions and sustained demand” across pivotal regions.
In 2021, OCP Group’s total turnover reached MAD 84.3 billion ($8.83 billion), representing an increase of 50%.
In 2020, the Moroccan company achieved a turnover of MAD 56.182 billion ($5.88 billion), indicating an increase of 4% compared to 2019.
The performance was mainly thanks to an increase in exported volumes of fertilizer and rock compared to 2019.
Morocco accounts for over 70% of the world’s phosphate reserves, and OCP Group is responsible for exporting, mining, processing, as well as maximizing Morocco’s phosphate value.
According to 2021 data from the Moroccan Foreign Exchange Office, Morocco’s phosphate revenues increased to approximately $5.7 billion in the past year, with the number representing a 27% increase in the country’s income through phosphate in 2020.
In addition to fertilize and phosphate activities, OCP helps tackle challenges facing the continent, including food insecurity.
“We’re committed to making radical and lasting change across our operations - for the benefit of business, community, and environment,” OCP said.
The group constantly creates initiatives to aid farmers across the continent.
One of the latest initiatives from OCP is the Al Moutmir.
Launched t in 2018, the Al Moutmir initiative focuses on supporting farmers to become key contributors to ensuring sustainable agriculture across Africa.
The initiative also seeks to empower rural farmers and cooperatives to improve the agricultural ecosystem in Morocco and across the continent.
To date, Al Moutmir has supported more than 50,0000 farmers directly across Morocco in increasing their agricultural production.
