Summary:

On 14 June 2026, OCP Group announced that it plans to restore full fertilizer production capacity by the end of June, despite earlier disruptions linked to the Strait of Hormuz crisis, which sharply reduced global sulfur availability and drove prices to record highs. 

The company indicated that the supply shock, compounded by export restrictions in key producing countries and logistical bottlenecks, initially led to production adjustments, but evolving global demand conditions and seasonal agricultural cycles in major importing markets have since supported a full-scale operational recovery. 

OCP also highlighted that its cost structure and access to phosphate rock have allowed it to maintain competitiveness despite supply chain volatility, while global competitors scaled back output under the pressure of elevated sulfur prices. 

OCP controls approximately 69% of global phosphate reserves. 

Outlook: 

Ongoing disruptions in global fertilizer supply chains, due to complications in key maritime routes in and around the Strait of Hormuz and constrained sulfur availability, are likely to reinforce OCP’s position as a stabilizing actor in a structurally volatile market. This supports Morocco’s role as a relatively resilient supplier in food-security-sensitive value chains, particularly when input price shocks undermine the competitiveness of less integrated producers. 

Repeated exposure of the sector to geopolitical chokepoints is expected to accelerate supply diversification strategies among importing economies, while further favoring producers with integrated upstream access and the ability to adapt production portfolios under cost pressure. 

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