## Company Profile EURO FREIGHT LINES (from website: https://euro-freight.ma/) — freight forwarding company based in Morocco. Offers ocean and air freight, customs clearance, door‑to‑door logistics and warehousing services for exporters and importers in Morocco (Tangier/Agadir/Casablanca corridor). Position: local/regional forwarder focused on Morocco–Europe/Mediterranean and North Africa trade lanes, serving commodity exporters (agri‑produce, packaged goods, industrial cargo) and importers. Scale: SME regional forwarder (website lists commercial contact sales1@efl.ma); no public large‑carrier ownership found. ## Pain Points 1) Capacity & equipment access pressure on key Morocco–EU corridors in 2026: Tangier Med throughput is up sharply (+8.4% in 2025) while carrier service reshuffles and reefers/equipment allocation remain the main constraint for exporters of perishables (citrus, tomatoes). Forwarders must secure reefer boxes and priority space for clients in peak windows — a recurring operational pain and revenue risk. 2) Rapid regulatory/SPS volatility at EU borders for Moroccan fresh produce: more frequent MRL/plant‑health rule changes and unpredictable inspection decisions increase rejection risk and add pre‑export testing/documentation costs that forwarders often must manage or indemnify for their customers. This raises friction and customer churn for forwarders handling perishable exporters. 3) Surge and reorientation of bulk fertilizer/phosphate flows in 2025–26 (OCP expanding finished fertilizer exports and spot sales to Latin America/India) creates short‑notice, high‑volume export demand and peak booking/timing problems (port/liner disruption and sulphur supply risk). Forwarders face volatile demand for breakbulk/bagged fertilizer shipments and need fast buyer/supplier matching and flexible routing options. ## Intel Summary === MULTI-DIMENSION RESEARCH === === 1. COMMODITY TRENDS – MOROCCO PHOSPHATE FERTILIZER EXPORTS & 2026 OUTLOOK === **Current export/production position (late‑2025 into 2026)** - Morocco (via OCP) remains the dominant global phosphate player with an estimated phosphate fertilizer production capacity of around **12 million tonnes/year**, requiring **5–6 million t of sulphur annually**. ([auronexgroup.com](https://auronexgroup.com/fr/insights/sulphur/hormuz-closure-2026-fertilizer-impact?utm_source=openai)) - Moroccan phosphate exports (all forms) surged in 2025: by November 2025, **raw phosphate exports were up 28.9% YoY, fertilizer exports up 11.7%, and phosphoric acid exports up 14.6%** versus 2024, underscoring strong export momentum heading into 2026. ([agritechmea.com](https://www.agritechmea.com/moroccos-phosphate-exports-surge-as-total-trade-hits-us46-5b-by-november-2025/?utm_source=openai)) - OCP’s 2025 revenues reached **MAD 113.9 bn** (~US$11.5 bn), up **17% YoY** from MAD 96.9 bn in 2024, with growth “mainly driven” by fertilizers and buoyant export volumes (especially to India). ([ledesk.ma](https://ledesk.ma/encontinu/ocp-affiche-un-chiffre-daffaires-de-1139-milliards-de-dirhams-en-2025-en-hausse-de-17/?utm_source=openai)) **Product mix and volume signals** - OCP has been deliberately shifting its portfolio toward higher‑value processed fertilizers: an OCP Q3‑2025 release notes that 2025 growth was “primarily driven by higher export volumes of phosphate rock and fertilizers” and a strategic **shift downstream** to fertilizers and specialty products. ([ocpsiteprodsa.blob.core.windows.net](https://ocpsiteprodsa.blob.core.windows.net/media/2025-11/CP_OCP%20Q3%202025%20Publication%20re%CC%81sultats_21112025_vUK.pdf?utm_source=openai)) - Triple superphosphate (TSP) is now a key pillar: by 2025, **TSP represented about 30% of OCP’s volumes**, reflecting a move away from formulations heavily dependent on imported ammonia/sulphur and toward products less exposed to these input markets. ([medias24.com](https://medias24.com/2026/04/17/face-aux-pressions-sur-les-intrants-ocp-fait-le-pari-du-tsp-1662017/?utm_source=openai)) - World Bank’s April 2026 commodity report confirms OCP as one of the main global fertilizer exporters and highlights that **phosphate fertilizer trade flows are increasingly concentrated in the Middle East & North Africa**, with Morocco among the largest suppliers. ([thedocs.worldbank.org](https://thedocs.worldbank.org/en/doc/f3138644a1e8e2bb631399ae11d6c408-0050012026/original/CMO-April-2026.pdf?utm_source=openai)) **Export destinations and contracts into 2025/26** - India has locked in significant volumes: Indian authorities recently secured **2.5 million tonnes** of fertilizer supply from Morocco for their **2025–2026 import strategy**, a strong floor under OCP’s export volumes into South Asia. ([moroccoworldnews.com](https://www.moroccoworldnews.com/2026/03/282848/ocp-ships-90000-tonnes-of-fertilizers-to-latin-america-amid-war-disruptions/?utm_source=openai)) - OCP continues opportunistic spot/export sales to Latin America: in March 2026, it sold **90,000 t of phosphate fertilizers** for April shipment to Latin America, explicitly framed as responding to regional supply disruptions. ([moroccoworldnews.com](https://www.moroccoworldnews.com/2026/03/282848/ocp-ships-90000-tonnes-of-fertilizers-to-latin-america-amid-war-disruptions/?utm_source=openai)) - European importers (Spain, France, Germany, Poland, UK) collectively absorb roughly **30–35% of OCP’s export volumes** of phosphate fertilizers, underlining Europe as a core demand basin. ([auronexgroup.com](https://auronexgroup.com/fr/insights/sulphur/hormuz-closure-2026-fertilizer-impact?utm_source=openai)) **Price level and trend indicators (2025–H1 2026)** - A specialist market analysis (Q4‑2026 phosphate outlook, looking forward from current energy conditions) estimates Moroccan **DAP** production economics at **~US$500–650/t FOB cost** with captive/”green” ammonia (US$200–300/t), versus US$900–1,200/t for non‑integrated producers dependent on expensive merchant ammonia. This margin structure encourages Morocco to prioritize **finished DAP/MAP exports over rock exports**. ([phosmark.com](https://phosmark.com/news/mosaic-10-percent-surge-validates-phosphate-shortage-morocco-monopoly-q4-2026?utm_source=openai)) - The same analysis suggests **Moroccan phosphate rock FOB prices** could tighten to **US$270–300/t in H2‑2026** (from roughly the US$240–260/t range), driven by OCP diverting more rock to internal fertilizer production. ([phosmark.com](https://phosmark.com/news/mosaic-10-percent-surge-validates-phosphate-shortage-morocco-monopoly-q4-2026?utm_source=openai)) - World Bank April 2026 notes that fertilizer prices overall **rose in Q1‑2026**, largely from urea, but that phosphate prices are expected to remain roughly **within current bands in 2026**, assuming no major new supply shocks and steady demand growth. ([thedocs.worldbank.org](https://thedocs.worldbank.org/en/doc/f3138644a1e8e2bb631399ae11d6c408-0050012026/original/CMO-April-2026.pdf?utm_source=openai)) - An industry sulphur risk note (May 2026 context) reports “sharp increases in spot pricing” for phosphate fertilizers shipped from Morocco to Europe in early 2026 as carriers and buyers factor in heightened sulphur and energy costs as well as logistical delays; exact CFR values are gated, but the commentary points to **spot phosphate fertilizer prices in Europe trading materially above long‑term contract levels**. ([auronexgroup.com](https://auronexgroup.com/fr/insights/sulphur/hormuz-closure-2026-fertilizer-impact?utm_source=openai)) **Supply disruptions and logistics affecting export flow in early 2026** - Severe **flash floods in Safi** (December 2025) killed at least 37 people and are “likely to impact exports” from OCP’s Safi facilities, which handle **smaller volumes of phosphoric acid, TSP, and animal feed phosphates**; however, the main export hub **Jorf Lasfar** continues to handle the bulk of phosphate fertilizers and phosphoric acid exports, mitigating systemic disruption. ([bcinsight.crugroup.com](https://www.bcinsight.crugroup.com/2026/01/29/safi-floods-likely-to-impact-phosphate-supply-from-ocp/?utm_source=openai)) - The sulphur supply risk via the Strait of Hormuz in 2026 is material for OCP: with OCP needing **5–6 million t of sulphur per year**, any disruption in Gulf sulphur flows directly impacts Moroccan phosphate fertilizer production and leads to **delayed shipments and force majeure notifications** to European customers, plus price spikes. ([auronexgroup.com](https://auronexgroup.com/fr/insights/sulphur/hormuz-closure-2026-fertilizer-impact?utm_source=openai)) **Strategic outlook for 2026** - Global context: CRU‑referenced analysis expects **Chinese phosphorus fertilizer exports** at **~5.6 mmt in 2026**, only slightly higher than 2025, amid ongoing export controls; this constrains global supply and increases the **swing‑producer role of Morocco (OCP)** and Saudi producers. ([dtnpf.com](https://www.dtnpf.com/agriculture/web/ag/news/crops/article/2025/12/19/less-chinese-phosphorus-exports-p?utm_source=openai)) - Morocco is explicitly expected to **expand processed fertilizer exports** rather than raw rock: higher margins on DAP/MAP/TSP and OCP’s integrated/green ammonia investments provide strong economic incentives to: - Maintain or slightly **reduce rock export volumes**; - **Increase finished fertilizer exports**, especially DAP/MAP/TSP and customized blends for major importers (India, Brazil, EU, Africa). ([phosmark.com](https://phosmark.com/news/mosaic-10-percent-surge-validates-phosphate-shortage-morocco-monopoly-q4-2026?utm_source=openai)) - Given 2025’s double‑digit growth in fertilizer export revenues (+11% in local currency in 2024, continued volume gains in 2025) and the large Indian contract plus spot sales to Latin America, a **high‑single‑digit to low‑double‑digit increase in Morocco’s fertilizer export volumes in 2026** is plausible, conditional on: - No prolonged sulphur/ammonia shock; - Ports (Jorf Lasfar especially) operating normally beyond Safi’s local disruption; - Chinese exports not rising sharply above the current 5.6 mmt forecast. ([agritechmea.com](https://www.agritechmea.com/moroccos-phosphate-exports-surge-as-total-trade-hits-us46-5b-by-november-2025/?utm_source=openai)) **Implications for a buyer/exporter in 2026** - Expect **firm to rising FOB prices** for Moroccan DAP/MAP/TSP through at least H2‑2026, particularly if energy and sulphur markets remain tight. - Availability risk is most acute for **Europe‑bound volumes** in case of sulphur/port disruptions, given their 30–35% share of OCP exports. Contracting early and securing optionality on shipment windows becomes crucial. ([auronexgroup.com](https://auronexgroup.com/fr/insights/sulphur/hormuz-closure-2026-fertilizer-impact?utm_source=openai)) === 2. DEMAND SIGNALS – MOROCCO CONTAINER FREIGHT RATES & CAPACITY (TANGIER–EUROPE / MED, 2026) === **Port capacity and volume fundamentals** - **Tangier Med** closed 2025 with **11,106,164 TEU**, up **8.4% YoY** vs 2024 across its four container terminals, consolidating its position near the top tier of Mediterranean/European gateways. ([diarioportuario.com](https://www.diarioportuario.com/en/2026/02/03/tanger-med-surpasses-11-million-teus-and-is-nearing-the-major-european-ports?utm_source=openai)) - Ship calls fell **4.5% YoY** to 16,686 in 2025 due to deployment of **larger‑capacity RoPax and container vessels**, indicating increased **slots/TEU per call** and hence higher effective capacity on key routes. ([diarioportuario.com](https://www.diarioportuario.com/en/2026/02/03/tanger-med-surpasses-11-million-teus-and-is-nearing-the-major-european-ports?utm_source=openai)) - A February 2026 note confirms the same figures (11.1m TEU, +8.4% YoY) and attributes growth to the extension of APM Terminals’ TC4, implying **incremental deep‑sea and feeder capacity becoming available in 2025–26**. ([container-mag.com](https://container-mag.com/geography/mediterranean?utm_source=openai)) - Additional Moroccan capacity is coming online: **Nador West Med**, a new deep‑sea port 50 km from Melilla, is scheduled to join the network toward **late‑2026**, following the Tangier Med model and significantly augmenting container capacity and redundancy for North Africa–Europe/Mediterranean flows. ([diarioportuario.com](https://www.diarioportuario.com/en/2026/02/03/tanger-med-surpasses-11-million-teus-and-is-nearing-the-major-european-ports?utm_source=openai)) **Rate level and direction – qualitative signals** There is limited public, route‑specific rate data (Tangier–specific spot rates are usually proprietary to indices like FBX, WCI, Xeneta). However, several recent indicators shape 2026 conditions: - The Mediterranean container market is experiencing **capacity re‑allocation and competitive shifts**: - Piraeus (Greece) saw its **container volumes fall 6% in 2025**, its second consecutive annual decline, amid persistent Middle East tensions and competition from Western Med hubs, notably Tangier Med. ([container-mag.com](https://container-mag.com/geography/mediterranean?utm_source=openai)) - A February 2026 alliance change (Gemini Cooperation) added a direct call at Antwerp on a Europe–Far East service while ending Tangier transshipment for some Belgian cargo, signaling **service restructuring rather than structural capacity loss** for Tangier; feeder investments from other lines partially offset this. ([container-mag.com](https://container-mag.com/geography/mediterranean?utm_source=openai)) - The combination of: - Rising throughput at Tangier (+8.4%); - Larger vessels (fewer calls, more TEU each); and - New capacity at Nador West Med by late‑2026 suggests **ample structural capacity** on North Africa–Europe and Med loops over the medium term, even as lines reshuffle routings in response to Suez/Middle East risk. **Container availability & operations – Morocco to Europe/Mediterranean (2025–26)** - Tangier Med’s growth to 11.1m TEU, while ship calls fell, implies **relatively high utilization but not yet a capacity crunch**; the port authority positions it as being able to handle >9m TEU for transshipment alone, plus substantial gateway volumes, suggesting **headroom for incremental exports in 2026**. ([diarioportuario.com](https://www.diarioportuario.com/en/2026/02/03/tanger-med-surpasses-11-million-teus-and-is-nearing-the-major-european-ports?utm_source=openai)) - The broader Med is adding capacity (e.g., Damietta Alliance terminal in Egypt opened Feb 13, 2026), which helps alleviate **east–west mainline congestion** and indirectly supports stable feeder capacity between Morocco, Spain, France, Italy and other EU/Med ports. ([container-mag.com](https://container-mag.com/geography/mediterranean?utm_source=openai)) - Carrier consolidation efforts (e.g., Hapag‑Lloyd exploring acquisition of ZIM, Gemini Cooperation realignment) are likely to **increase schedule and capacity concentration** on main loops, while preserving strong feeder networks to/from Tangier Med due to its strategic hub role. ([container-mag.com](https://container-mag.com/geography/mediterranean?utm_source=openai)) **Implied rate dynamics for 2026 exports from Morocco** - While no recent public index quotes are specific to Tangier–Europe, the combination of: - Strong but manageable demand (+8.4% TEU in 2025); - Ongoing Suez and Red Sea disruptions (diversions around the Cape, longer rotations); - Elevated bunker costs linked to high oil prices (also noted in fertilizer context); ([phosmark.com](https://phosmark.com/news/mosaic-10-percent-surge-validates-phosphate-shortage-morocco-monopoly-q4-2026?utm_source=openai)) suggests that **base container freight rates ex‑Tangier to North Europe and Western Med are above 2019 pre‑COVID levels** but below the 2021–22 peak, and may **trend sideways to slightly higher in 2026** if geopolitical risks persist. - For Moroccan agricultural exporters, especially reefer cargo (citrus, tomatoes, fresh produce), this means: - **Reefer surcharges and priority booking fees** will remain a significant cost component; - Space to Northern European ports in peak seasons (Q4–Q1 citrus; winter tomatoes/vegetables) may tighten, but structural port capacity is not the main constraint—**carrier allocation and equipment (reefer box) positioning** are. **Key qualitative demand signals to watch in 2026** - Annual TEU growth rates at Tangier Med (port authority statistics) to see if 2025’s **+8.4%** accelerates, indicating stronger export/import pull. ([diarioportuario.com](https://www.diarioportuario.com/en/2026/02/03/tanger-med-surpasses-11-million-teus-and-is-nearing-the-major-european-ports?utm_source=openai)) - Service announcements from major carriers (Maersk, MSC, CMA CGM, Hapag‑Lloyd) about: - Adding/removing Tangier Med calls on Europe/Mediterranean loops; - Dedicated North Africa–Europe reefer services (critical for fresh produce). - Start‑up of **Nador West Med**: once operational, it should **increase competition for gateway and feeder volumes**, which over time could **moderate rate pressure** on some Morocco–EU corridors if carriers use it to expand rotations or relieve Tangier congestion. ([diarioportuario.com](https://www.diarioportuario.com/en/2026/02/03/tanger-med-surpasses-11-million-teus-and-is-nearing-the-major-european-ports?utm_source=openai)) === 3. PROBLEM FRAMING – EU PHYTOSANITARY / MRL / SPS CHANGES IMPACTING MOROCCAN AGRI EXPORTS (CITRUS, TOMATOES, FRESH PRODUCE) IN 2026 === **Context: rising EU regulatory scrutiny on fruit & vegetable imports** - The EU maintains an integrated SPS regime (plant health, MRLs, and food safety) for third‑country imports. While Morocco already faces specific requirements (e.g., for tomato brown rugose fruit virus, Citrus Black Spot, pesticide MRLs), 2025–26 has seen further **tightening and procedural complexity**, particularly affecting Mediterranean suppliers. **Recent SPS/MRL‑related developments (2025–26) relevant to Morocco** 1. **Increased frequency and complexity of phytosanitary import requirements** - An April 2026 European Commission barriers database entry consolidates business complaints about **frequent and unpredictable changes in EU import requirements for plant products (fruits, vegetables, etc.)**. It highlights issues such as: - Rapid updates of **pest‑related conditions**; - Non‑recognition of certain third‑country pest‑free areas; - Administrative burdens from shifting documentation and inspection rules. ([webgate.ec.europa.eu](https://webgate.ec.europa.eu/barriers/public/v1/barriers-report?isSps=true&measures=58&sectors=20&utm_source=openai)) - While the entry is framed generally (plants, kiwis, citrus, flower bulbs, fresh tomatoes, etc.), Moroccan exporters of **citrus and tomatoes** are directly exposed because: - Many shipments enter via **Spain, France and the Netherlands**, where border inspection posts apply the EU rules strictly; - Any pest interception or MRL exceedance can quickly lead to **increased inspection frequencies or temporary stricter conditions**. 2. **MRL and pesticide‑use tightening** - The EU is in the process of phasing out or lowering MRLs for certain active substances (e.g., some neonicotinoids, certain fungicides) under its Farm‑to‑Fork and Green Deal strategies. While each MRL change is codified in specific Regulations/Implementing Regulations, the cumulative effect in 2025–26 is: - **Reduced flexibility** in Moroccan spray programs for citrus and greenhouse vegetables destined for the EU; - Higher risk that **residues previously within limits become non‑compliant** as MRLs are lowered or set at the default 0.01 mg/kg. - Moroccan exporters must track EU MRL changes closely via the EU pesticides database and adapt integrated pest management accordingly. (Underlying legislative acts are scattered; the Commission barriers report flags “frequent changes in import requirements,” which include MRL‑related conditions.) ([webgate.ec.europa.eu](https://webgate.ec.europa.eu/barriers/public/v1/barriers-report?isSps=true&measures=58&sectors=20&utm_source=openai)) 3. **Plant health / quarantine pests & recognition of pest‑free areas** - The April 2026 EU barriers report also references **import restrictions for “fresh tomatoes with and without green parts”**, tied to plant health concerns and **non‑recognition of pest‑free areas** in certain exporting countries. Although the specific case described concerns EU relations with another partner, the mechanism is highly relevant to Morocco: - Where Morocco claims pest‑free status (for specific tomato pests or citrus pests), **any EU reluctance to recognize these areas** can lead to **broader‑than‑necessary phytosanitary measures**, more inspections, and potential additional treatment or certification requirements. ([webgate.ec.europa.eu](https://webgate.ec.europa.eu/barriers/public/v1/barriers-report?isSps=true&measures=58&sectors=20&utm_source=openai)) - For citrus, the EU’s longstanding focus has been **Citrus Black Spot, fruit flies (Ceratitis capitata), and other quarantine pests**. Any uptick in interceptions of Moroccan citrus at EU borders can trigger: - Inclusion on or elevation within **EU’s “High‑Risk” or increased inspection lists**, via Implementing Regulations; - Possible temporary suspension or enhanced cold‑treatment protocols if thresholds are exceeded. 4. **Procedural SPS barriers & trade irritants** - The same April 2026 documentation notes **“import restrictions for fresh tomatoes”** and **frequent changes in import requirements** as SPS‑type barriers. The key problem‑framing elements for Moroccan exporters are: - **Predictability**: rapid regulatory changes leave limited time to adjust agronomic practices or post‑harvest treatments; - **Cost of compliance**: more frequent lab tests, residue analyses, and phytosanitary inspections increase per‑unit export costs; - **Risk concentration**: a single non‑compliant shipment (MRL or pest) can trigger **broader measures against all Moroccan consignments**, raising systemic risk. ([webgate.ec.europa.eu](https://webgate.ec.europa.eu/barriers/public/v1/barriers-report?isSps=true&measures=58&sectors=20&utm_source=openai)) **What this means specifically for Moroccan citrus & tomato/fresh produce exporters in 2026** - **Higher compliance burden and testing frequency** - Exporters must budget for **more extensive residue testing (MRL checks)** per lot and maintain tight documentation (field spray logs, harvest intervals, lab certificates) to pre‑empt border rejections. - For citrus and tomatoes, **pre‑export inspections and trapping/monitoring programs** for key pests become essential to defend Morocco’s sanitary status during any EU review. - **Supply chain and timing risk** - For perishable products (citrus, tomatoes, berries, vegetables), **border delays tied to SPS inspections** can lead to: - Quality loss and partial or total cargo devaluation; - Disruption of supermarket programs if on‑time delivery windows are missed. - In peak Moroccan export windows (winter/early spring), even small changes in inspection intensity can create **queueing at key EU entry ports** (e.g., Algeciras, Perpignan, Rotterdam). - **Strategic positioning vs competitors** - Morocco competes directly with **Spain, Egypt, Turkey, and other Med suppliers**. EU regulatory tightening that applies uniformly to all third‑country exporters may **erode some of Morocco’s cost advantage**, but it also penalizes less‑organized suppliers more severely. - Moroccan exporters with strong **GLOBALG.A.P., GRASP, and BRC/IFS‑certified packhouses** and robust residue management systems can turn compliance into a **competitive differentiator**, positioning themselves as “low‑risk” suppliers to EU retailers. - **Key monitoring points for 2026** - New or revised **Implementing Regulations** under Regulation (EU) 2017/625 (official controls) and the Plant Health Regulation (EU) 2016/2031 that specifically reference: - Citrus fruits; - Solanaceae (tomato, pepper); - High‑risk plants and plant products from third countries. - Updates to **EU pesticide MRLs** for substances heavily used in Moroccan citrus and tomato programs. - Any spike in **RASFF (Rapid Alert System for Food and Feed)** notifications related to Moroccan produce (MRLs, microbiological contamination, or pests). **Summary problem framing** - The EU’s 2026 regulatory environment is characterized less by a single dramatic new SPS measure and more by a **cumulative tightening and increased volatility of phytosanitary and MRL conditions**, experienced by exporters as: - Frequent rule changes; - Heightened documentation/testing obligations; - Greater risk that isolated non‑compliances escalate into **system‑level trade frictions**. ([webgate.ec.europa.eu](https://webgate.ec.europa.eu/barriers/public/v1/barriers-report?isSps=true&measures=58&sectors=20&utm_source=openai)) - For Moroccan citrus, tomatoes and fresh produce, the dominant strategic issues are therefore: - **Risk management and traceability** along the farm–packhouse–export chain; - Maintaining **political and technical dialogue** with EU counterparts to secure recognition of Moroccan pest‑free areas and equivalence where possible; - Diversifying export markets (e.g., UK, Middle East, Russia, sub‑Saharan Africa) to reduce over‑exposure to EU SPS policy shifts. Sources: • La crise d'Ormuz et l'approvisionnement mondial en soufre en 2026 : ce que les acheteurs européens doivent savoir | AURONEX Group https://auronexgroup.com/fr/insights/sulphur/hormuz-closure-2026-fertilizer-impact?utm_source=openai • Morocco’s phosphate exports surge as total trade hits US$46.5B by November 2025 | AgriTech Middle East & Africa - Trends in Investments, Innovation & Sustainability in the Agriculture Industry https://www.agritechmea.com/moroccos-phosphate-exports-surge-as-total-trade-hits-us46-5b-by-november-2025/?utm_source=openai • OCP affiche un chiffre d'affaires de 113,9 milliards de dirhams en 2025, en hausse de 17% - Le Desk https://ledesk.ma/encontinu/ocp-affiche-un-chiffre-daffaires-de-1139-milliards-de-dirhams-en-2025-en-hausse-de-17/?utm_source=openai • Press release https://ocpsiteprodsa.blob.core.windows.net/media/2025-11/CP_OCP%20Q3%202025%20Publication%20re%CC%81sultats_21112025_vUK.pdf?utm_source=openai • Face aux pressions sur les intrants, OCP fait le pari du TSP - Médias24 - Numéro un de l'information économique marocaine https://medias24.com/2026/04/17/face-aux-pressions-sur-les-intrants-ocp-fait-le-pari-du-tsp-1662017/?utm_source=openai • A World Bank Group Report | | APRIL 2026 Commodity https://thedocs.worldbank.org/en/doc/f3138644a1e8e2bb631399ae11d6c408-0050012026/original/CMO-April-2026.pdf?utm_source=openai ... (full source list included in original search output)