Moroccan Minister Lekjaa reveals the reasons for the high prices of some foodstuffs

Published 2022년 2월 17일

Tridge summary

The article explains the increase in consumer item prices globally, with a focus on Morocco, due to unexpected economic recovery and a significant rise in the prices of grains and petroleum products on the international market. The price of grain has surged by 34% compared to 2020, and petroleum products like butane gas and gasoline have also seen substantial increases. In response, the Moroccan government has suspended customs duties on wheat imports and subsidized the cost of grain and flour, leading to substantial financial losses and necessitating increased budget allocations. The article also notes that the tax rate on petroleum products in Morocco is lower than in neighboring countries.

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

Original content

In a press interview after the cabinet meeting, Lekjaa explained that the rise in the prices of a number of consumer items is mainly due to the unexpected economic recovery that the world is experiencing, and to the steady rise in the prices of grains and petroleum products in the international market. Regarding the price of grain, Lakjaa confirms, its price on the international market rose to $315 per ton, compared to $290 per ton in 2021, an increase of up to 34 percent compared to a normal year such as 2020. He pointed out that due to geopolitical conditions and the high prices of freight and international transport, the price of one quintal of grain in 2022 on the international market rose to 340 dirhams instead of 260 dirhams in 2021. In the face of these circumstances, the minister confirms, the state resorted to taking measures, the first of which is the suspension of customs duties on wheat imports in two periods, from February to May 15, 2021, to provide the appropriate ...

Source: Le 360