The editorial staff of “Barlamane.com”
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19:09 – December 17, 2024
Morocco will continue its subsidies on the import of milling wheat until the end of April 2025, announced the government cereals agency ONICL, which predicts that the kingdom will continue to import wheat due to the drought, which reduces local harvests.
Over the past two years, after disappointing harvests, Morocco has sharply increased its wheat imports, making it an important market for the European Union and, increasingly, Russia.
The extension of the subsidies, which were due to end in December, was decided by the Moroccan ministries of Finance and Agriculture. ONICL will provide more details later, according to a press release from the agency.
Traditionally, Morocco had closed its import market during years of good harvests in order to protect its farmers. However, in 2024, the import window remained open, media reports. This extension of subsidies will guarantee a stable supply of wheat for millers until the next harvest.
France was the main supplier of wheat to Morocco for many years, but the loss of the Algerian market to Russia made the Moroccan market even more crucial for French traders.
However, due to a poor harvest in France and incentives taken by Morocco to encourage competition from lower-priced Black Sea wheat, Russia has significantly expanded its share of the Moroccan market this year. . According to the National Federation of Cereal and Legume Traders of Morocco (FNCL), Russia could become the main supplier of milling wheat to the country for the 2024/2025 season, thus ahead of France.
Local
Morocco
