Rabat – The OCP Group, a major Moroccan fertilizer and phosphate producer, has acknowledged the results of the first administrative review of the countervailing duty order on certain Moroccan phosphate fertilizer imports by the United States.
The US Department of Commerce (DOC) announced a decrease in the tariff rate, which was previously set at 19.97%. Following the review, the new rate has been adjusted to 2.12%, according to an OCP press release.
This revised tariff rate will apply to OCP’s imports from 2021. Additionally, this rate will act as the provisional rate to be deposited with US Customs for all imports starting from November 2023 until the end of the next administrative review, anticipated in the fourth quarter of 2024. The rate is subject to future adjustments based on the subsequent review’s outcome.
During the review and verification process, OCP presented detailed evidence, which they believe contributed to the decision to reduce the tariff rate. The company stated its compliance with DOC procedures and maintained its position against the imposition of tariffs on its US fertilizer imports.
OCP anticipates further developments in response to remand orders issued by the US Court of International Trade in September 2023, expecting redeterminations by the DOC and the US International Trade Commission in the coming months. The company has expressed its readiness to provide additional information for these redeterminations.
The group also acknowledged the support of those advocating for US farmers against these duties. OCP emphasized its commitment to being a reliable and high-quality supplier of sustainable phosphate fertilizers, vital for US agriculture.
The tariff reduction is expected to decrease OCP Group’s import costs to the United States, potentially enhancing its market position. This change may benefit American farmers by making OCP’s phosphate fertilizers more accessible at lower prices.
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