Morocco Increases Wheat Imports Against the Background of Low Prices

Morocco is increasing imports of soft wheat used in bread and pastry production to replenish its stocks and secure supply for 3 to 5 months, taking advantage of lower grain prices on international markets, said Abdelkader El Alaoui, chairman of the Moroccan National Federation of Mill Owners, as cited by the National Radio and Television Company of Morocco. International wheat prices have been declining since May, according to an analysis by the UN Food and Agriculture Organization. El Alaoui reported that the reference price for wheat delivery to mills is 2,500-2,550 Moroccan dirhams (277.7-283.3 dollars at the current exchange rate) per ton, which is below the 270 dirham threshold required to receive state subsidies designed to compensate for the difference between import and domestic market prices. Recently, Morocco's Minister of Agriculture Ahmed Bouari forecast that the country's grain production this year will increase by 41% compared to 2024, reaching 4.4 million tons. The ...