Morocco's wheat imports will reach a record level this year

Published 2022년 6월 12일

Tridge summary

The United Nations Food and Agriculture Organization (FAO) has reported significant challenges in the global wheat market for the 2022/2023 season, attributed to the Ukraine conflict, changing trade policies, and high prices. Morocco is facing a severe crisis with a projected 67% drop in cereal production and a need to increase imports by 32%, reaching a record 6.2 million tons. This is due to both domestic drought and the global decline in wheat production, expected to be the first in four years. In response, the Moroccan government has implemented measures such as increasing subsidies for wheat, sugar, and cooking gas, suspending import duties on wheat, and establishing a refund system to control wheat prices. Additionally, an emergency drought program has been launched to provide subsidized barley and increased wheat subsidies to affected farmers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This week, the United Nations Food and Agriculture Organization revealed that Morocco expects a 67% drop in cereal production and a 32% increase in imports. The Food and Agriculture Organization of the United Nations (FAO), said in a report, that global wheat markets during the 2022/2023 season are shrouded in a lot of uncertainty, adding that the repercussions of the ongoing war in Ukraine, changes in trade policy in many countries, and high international prices, will affect on the wheat market. The FAO noted that global wheat prices have reached levels not seen since 2008, due to lower yields in some major exporting countries and suspension of exports by other countries, notably Ukraine (a major exporter) and India (an emerging exporter), in addition to supply problems. . Morocco: a 67% decrease in production and a 32% increase in imports Under these conditions, global wheat production in 2022 is expected to fall by 0.8% from the record level of 2021, to reach 771 million tons, ...

Source: Kech24.ua