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Moroccan Phosphate Firm Delays 2026 Payout
OCP Group, a Moroccan phosphate company considered one of the largest exporters of phosphate fertilizers globally, has announced that it has not yet made a decision regarding the distribution of profits for the 2026 fiscal year. This comes after incurring a net loss of 2.837 billion dirhams (approximately $284 million) in the first half of the year, compared to profits of 8.252 billion dirhams (around $826 million) during the same period of the previous year. The company attributed its losses to the closure of the Strait of Hormuz, which is a key route for sulfur exports, and the subsequent tripling of sulfur prices since the closure. Sulfur is used to produce sulfuric acid, which processes phosphate rocks into phosphoric acid—an essential component in fertilizer production. The company has not yet made a final decision regarding the 2026 profit distribution, indicating that the matter will only be determined after completing the annual results and holding its administrative meetings. It is worth noting that the company distributed dividends of 89.56 dirhams per share for 2025, with the government owning 94.12% of its shares.
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