Prices of olives and olive oil are heading towards a price increase in Morocco, due to the impact of drought, and the increase in global demand due to poor harvests in major international suppliers such as Spain and Tunisia.
Olives trees, represent 65% of the area allocated for planting fruit trees in Morocco.
Head of the Moroccan Association of Olive Producers and Water Economists, Hamid Sabri told Hespress AR that the current season has been affected by unprecedented drought, and that the price of one kilogram of olives currently ranges between MAD 8 and MAD 9, compared to MAD 6 last season.
Small farmers with little to no access to modern, green, and long-term irrigation technologies are getting the short end of the stick, and have been severely affected by this years weather and climate.
The regions of Fez-Meknes and Marrakech-Safi are the largest in terms of production at the national level.
Speaking to Hespress AR, Sabri indicated that the price of virgin olive oil ranged between MAD 75 and MAD 80 per liter. The oil price rate is expected to be around MAD 60 to MAD 65, compared to an average of MAD 45 last year.
The olive production chain is an important source of employment, providing more than 51 million working days per year, equivalent to 13% of the total working days provided by the agricultural sector.
The sub-sector additionally meets 19% of the total needs of the country’s edible oils.
Sabri pointed out that, considering how Spain’s production fell by more than 60% and Tunisia’s by about half, global demand for Moroccan products may rise further.
According to data from the Ministry of Agriculture, the volume of olive oil exports during the first eight months of 2022 amounted to about 13,200 tons, double the volume of 2021 during the same period, with a value of MAD 456 million, an increase of 47%.
The national production of olives for the 2021-2022 season amounted to about 1.96 million tons, an increase of 21% compared to the previous season.
“Despite the circumstances, there are good prospects for Morocco, » said Sabri.
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