OCP Group has acknowledged the decision of the US Department of Commerce to reduce to 16.88% (from 23.46% initially) the preliminary countervailing duty rate applied to the imports of phosphate fertilizers from Morocco into the US, in response to a misguided petition from the Mosaic Co.
OCP Group announced that they were gratified that the Department of Commerce has acknowledged and now corrected the arithmetic error in the Department's calculation of the initial provisional rate.
OCP and the Government of Morocco will continue to cooperate with US authorities to establish that there are no grounds for countervailing duties.