Morocco has revised its wheat import subsidy scheme to make it easier for companies to import from the Black Sea region, including Russia and Ukraine, in a move aimed at increasing competition in a market dominated by wheat from France and other European Union suppliers.
Under the new terms, importers can receive a monthly subsidy if their cargoes are loaded by the end of the month, rather than having to arrive in Morocco by the month’s end, Reuters reported.
The agency spoke to an official at thet state grain agency ONIC who said on Wednesday that Tte change could make shipments from Ukraine and Russia more feasible in future, but traders say the EU still remains in pole position on the Moroccan market.
The move comes after Morocco overtook Algeria as the top export destination for EU wheat in the 2022/23 season due to a drought-hit harvest last year.
“The import subsidies will be offered till the end of May, suggesting Morocco will then close its import window to focus on its local crop,” Reuters said.
Morocco usually does not confirm the end of its import campaign until harvest prospects become clearer around April.
Moroccan grain importers faced record prices in 2021 following Russia’s invasion of Ukraine and wider food inflation due to drought and other issues.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.