OCP meaning in Business ?

Answer:

What is Office Chérifien des Phosphates mean?

The OCP Group (OCP S.A.) (formerly Office Chérifien des Phosphates) is a Moroccan state-owned phosphate rock miner, phosphoric acid manufacturer and phosphate fertilizer producer. Founded in 1920, the company has grown into one of the world's largest producers of phosphate and phosphate-based products and it is one of the largest phosphate, Chemicals and Mineral industrial companies in the world by revenue.

OCP has access to more than 70% of the world's phosphate rock reserves. Initially a mining company, OCP has diversified in 1965 to become a phosphate processor, making it one of the world's leading fertilizer manufacturers. The company holds a 31% market share of the world phosphate product market.

The group employs nearly 23,000 people in Morocco and a number of international subsidiaries. In 2018, its revenues amounted to US$5.884 billion.

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