Home / Finance & Economy / Mosaic satisfied with the opening of investigation against the OCP in USA

Mosaic satisfied with the opening of investigation against the OCP in USA

Mosaic Company is quite pleased with the results of the opening in late June of countervailing duty investigations on exports of phosphates by the OCP and the Russian group PhosAgro to the US market.

Professionals in the United States who “import products from the OCP or from the Russians have definitely taken a step back (…) We have seen a drop in these imports in July”, acknowledged Joc ORourke, the president and chief executive within of Mosaic during a discussion, held on Tuesday August 4, with financial analysts and representatives of international banks.

The official said it is completely unknown whether OCP and PhosAgro intend to return in “the next few months” to the US market. Nevertheless he stressed that his management noted the arrival of new products from Egypt, Australia and Mexico.

For the record, “the Office Cherifien des Phosphates does not rule out suspending its exports of fertilizer products to the United States,” two senior OCP officials told Reuters on July 24 on condition of anonymity. The group “could redirect its exports to other markets,” they said.

The American official returned to the complaints filed against their immediate competitors. Mosaic Company made the move “to address imbalances associated with unfair government subsidies on imports and to highlight unequal requirements for environmental standards. We believe that our competitors benefit from access to rocket costs and to artificially low energy without having to comply with adequate and appropriate environmental standards,” he explained.

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