Morocco will provide a flat subsidy of up to 20.80 dirhams ($2.25) per quintal of imported soft wheat between Sept. 16 and 30 as the government seeks to strengthen national stocks of the staple grain.
Morocco is resuming soft wheat imports from mid-September through Dec. 31 after efforts to build strategic stocks over the past three months failed to secure the targeted quantities.
The move comes as global wheat prices have risen since the beginning of September, driven in part by renewed tensions around the Black Sea, one of the world’s major grain-exporting regions.
European wheat prices on the Euronext exchange in Paris rose to about 245 euros ($287) per metric ton before falling to around 233 euros amid expectations of renewed negotiations over maritime security in the Black Sea.
Despite recent declines, prices remain at their highest levels in more than three years, reflecting continued uncertainty in international grain markets.
Russia and Ukraine, which together account for a significant share of global wheat exports, continue to influence international prices. Attacks on grain-export infrastructure have disrupted wheat flows through the Black Sea, prompting some importers to seek alternative suppliers, including Australia and Argentina, potentially at higher prices.
The Food and Agriculture Organization of the United Nations has warned that the continuing conflict, combined with unfavorable weather conditions in Europe, is adding pressure to global grain markets and could keep prices elevated in the coming months.
Moroccan wheat importers previously told Hespress that supplies were available on international markets but warned that shipping could face logistical constraints.
The government aims to ensure that Moroccan mills can obtain soft wheat at a price of no more than 270 dirhams per quintal by covering additional costs above that threshold.
The latest import decision follows difficulties faced by storage operators in securing sufficient quantities of locally produced soft wheat over the past three months. Farmers and producers were reluctant to sell their wheat on the domestic market at prices proposed by the Ministry of Agriculture, Fisheries, Rural Development, Water and Forests.
Morocco suspended wheat imports from the beginning of June to give domestic farmers an opportunity to market their production from the latest agricultural season.
The resumption of imports is intended to help replenish national stocks and ensure supplies for domestic mills through the end of the year.
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