U.S. DOC Announces Results of First Administrative Review of CVDs
OCP welcomes the final results announced by the U.S. Department of Commerce (DOC) in the first administrative review of the countervailing duty order on certain Moroccan phosphate fertilizer imports into the United States. The result is a reduction in the overall tariff rate from 19.97% to 2.12%. This new and far lower rate will be the final tariff rate applied to our 2021 imports, and will also serve as the new provisional rate required to be deposited with U.S. Customs for imports occurring from November 2023 and onward until the conclusion of the next administrative review in Q4 2024. At that time, the rate will again be updated.
We are very pleased that the DOC has taken account of the detailed evidence provided by OCP during the DOC’s first administrative review and verification process. This result reflects OCP’s commitment to cooperate fully with the DOC review and verification process, leading to a markedly reduced tariff based on the DOC’s more thorough review of the facts.
OCP continues to believe that there is no justification for any tariffs on our US fertilizer imports. We therefore look forward to the DOC’s and the US International Trade Commission’s redeterminations in the next few months in response to the remand orders issued in September 2023 by the US Court of International Trade. We remain, as always, ready to provide the US agencies with any further information they may require to complete their redeterminations. We are grateful to all those voices representing US farmers who spoke out loudly in opposition to these duties. And we remain eager to resume our role of serving as a reliable, high-quality provider of sustainable phosphate fertilizers that are essential in enabling US farmers to feed their fellow citizens and the wider world.