Platts, a company that tracks global commodity prices and is part of S&P Global Commodity Insights, has announced plans to change how it reports the price of phosphate rock from Morocco. The change will take effect on July 3, 2025, the company said in a press release on Monday. Currently, Platts calculates the price based on both long-term contracts and one-time (spot) sales. Under the new methodology, however, it will rely exclusively on prices agreed in quarterly contracts between Morocco's state-owned company OCP and its international customers. One-time or short-term deals will no longer be included. This proposal aims to «better reflect the characteristics of the phosphate rock market in Morocco», Platts said. In Morocco, phosphate rock is entirely controlled by OCP, the government-owned company. According to Moroccan law (Law No. 33-13), OCP holds exclusive rights to extract, process, and sell phosphate. It typically signs supply contracts every three months. Because of this centralized structure, Platts believes it is more accurate to report only the official contract prices confirmed directly by OCP and its buyers. The company will no longer include editorial estimates or analysis, it will simply publish the confirmed figures. As part of the same proposal, the price assessment will be renamed Phosphate Rock FOB Morocco CP, 68-72 BPL. «CP» stands for Contract Price, and FOB (Free On Board) means the price includes transport to the port in Morocco but not the shipping costs to the buyer's destination, the statement concluded.
