Moroccan Government to Halt Olive Oil Exports, Prompting Industry Tensions

As of January 1, 2024, the Moroccan government will completely halt olive oil exports to prioritize and secure local stocks. This decision has sparked new tensions within the industry, impacting domestic and international stakeholders. Spanish importers had previously acquired approximately 7,400 metric tons (mt) from Morocco in 2022, encompassing both bulk and packaged products. The closure of borders poses significant challenges for olive oil importers in the days ahead.