Argus reported that OCP Nutricrops sold a 50 percent stake in Jorf Fertilizers Company 1, a 1.2 million tonne a year nameplate phosphate fertilizer unit, to Koch Ag and Energy Solutions. The deal lifts OCP-Koch joint-venture capacity to 2.5 million tonnes a year with the existing Kofert venture. It follows a US suspension of countervailing duties on Moroccan phosphates for eight months.
Sulfur feedstock security remains a near-term operating constraint for Jorf complex utilization. CRU, in its 14 July sulphur market update, said OCP cut Moroccan phosphate capacity by up to 50 percent through the second quarter as sulfur availability and prices deteriorated. Separate Argus reporting in mid-July said OCP had been operating near 50 percent in June on sulfur shortage but theoretically had enough sulfur to run at full rates in July-August if logistics held.
A 50 percent stake sale does not create sulfur tonnes. It reallocates phosphate capacity between OCP and Koch while the raw-material constraint is still sulfur. Jorf is one of the world's largest phosphate complexes. Its utilization rate is a global sulfur-demand print. Half-rate running in Q2 was that print.
Middle East seaborne sulfur, more than 45 percent of 2025 traded tonnes in CRU's account, had been down more than 1.0 million tonnes a month since March. Russia banned industrial sulfur exports through 31 December 2026. Kazakhstan suspended exports from 27 June. Morocco cannot replace those origins from domestic Claus plants. It buys seaborne solid sulfur.
Canadian Pacific tonnes are one of the non-Hormuz answers. SMM put 2025 Canadian sulfur exports at 4.25 million tonnes and 2026 on a 5.22 million tonne annualized pace. VFPA put Vancouver 2025 sulphur at 3.51 million tonnes. Those stems can feed Atlantic phosphate only after a long Pacific-to-Atlantic voyage or via a US Gulf re-export. They are not a same-week Jorf substitute.
The eight-month US CVD suspension on Moroccan phosphates is a trade-policy door into the US phosphate market. Koch's larger JV capacity is a US-facing distribution story. Neither changes the Tampa molten contract, which Argus open news put at $705 per long ton delivered for Q3 (https://www.argusmedia.com/en/news-and-insights/latest-market-news/2851577-tampa-3q-liquid-sulphur-price-hits-record-705-lt).
Mosaic curtailed at three US and Brazil locations in the same CRU update. TFI later said four Mosaic units were cut earlier in the summer. OCP and Mosaic cutting on the same sulfur shortage is the demand destruction that sits under the Koch deal. Capacity that cannot be fed is not capacity that can be sold.
Alberta recovered sulfur still leaves mainly through the Vancouver stem. A Jorf ownership change shows up there only if Moroccan buying of non-Gulf solids continues. The desk will watch whether Jorf utilization in July-August matches the Argus remark that enough sulfur existed on paper if logistics held.
The Argus inventory URL attached to some desk files for this item, https://www.argusmedia.com/en/news-and-insights/latest-market-news/2731279-alberta-sulfur-inventories-fall-as-exports-climb, is the AER-linked Alberta stock story, not the JFC 1 transaction story. Stake-sale facts follow the 17 July company and trade-press account. Licensed weekly grids are not restated.