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Rabat – Leading Moroccan fertilizer and phosphate producer, OCP Group, expressed its satisfaction with the final results of the first administrative review of the countervailing duty order on certain Moroccan phosphate fertilizer imports into the United States.
Announced by the US Department of Commerce (DOC), the outcome of this review is a reduction in the overall tariff rate, dropping from 19.97% to a significantly lower 2.12%, said OCP in a press release.
This newly revised and substantially lower tariff rate will be applied to OCP’s 2021 imports. In addition, it will serve as the provisional rate required to be deposited with the US Customs for all imports from November 2023 and onward until the conclusion of the next administrative review, expected in Q4 2024.
The statement noted that this rate will be subject to adjustment during the next review.
OCP expressed its gratitude for the DOC’s consideration of the “detailed evidence” the group presented during the review and verification process.
The fertilizer giant highlighted their commitment to full cooperation with the DOC’s procedures, which ultimately led to a significantly reduced tariff rate.
OCP Group firmly maintained its stance that there is no justification for imposing tariffs on their US fertilizer imports.
“We therefore look forward to the DOC’s and the US International Trade Commission’s redeterminations in the next few months in response to the remand orders issued in September 2023 by the US Court of International Trade,” said the group.
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OCP stressed that it is committed to providing any additional information that may be required to facilitate the redeterminations.
The company also expressed its gratitude to all those who advocated on behalf of US farmers in opposing these duties.
In addition, the group underlined its dedication to its role as a “reliable and high-quality” provider of sustainable phosphate fertilizers, which are essential in supporting US farmers in their mission to feed both their country and the global population.
The reduction in tariffs on Moroccan phosphate fertilizer imports into the United States is set to significantly lower OCP Group’s import costs, enhancing its competitive advantage and economic viability in the American market.
This will benefit American farmers who rely on OCP’s phosphate fertilizers, as they can now access these products at amore affordable price.
