Morocco's OCP H1 Net Profit Drops 46%

Morocco's Office Cherifien de Phosphate reported a 46% fall in its net profit for the first half. OCP's profit for the period declined to 3.6 billion dirhams ($426 million). In 2013, prices of phosphate rock dropped to $145 per tonne, versus about $185 per tonne in 2012. OCP's sales fell to 24.5 billion dirhams, versus 28.24 billion, in the year-ago period.