19.
10.18
09:52

Morocco cuts import duty on wheat to 30%

Morocco announced on Thursday that it would cut tariff duties on common wheat from 135% to 30% from 1 November and reverse an earlier announcement that customs would be completely abolished.
The cut will help keep the import price of common wheat at 260 dirhams per quintal, the government council said in a statement.
The Ministry of Agriculture had announced on October 1 that Morocco would completely cancel the tariff in order to ensure a regular supply, avert price increases on the domestic market and help farmers better plan reserves. The ministry also reports the slow pace of local harvest capture by October.
In May, Morocco increased the tariff to 135%, as it became apparent that this year's grain harvest would be extraordinarily high at 10.3 million tonnes. Including 4.91 million tonnes of common wheat, 2.42 million tonnes of durum wheat and 2.92 million tonnes of barley.
The French wheat exporters estimated Morocco's soft wheat import requirement at 3 million tonnes for the 2018/19 season.
At the 1.In October, Morocco's wheat reserves covered 4.3 months of local mill needs, the Department of Agriculture said.
The supply of wheat is the key to Morocco's stability, since bread and semolina play an important role for the population of about 35 million.
Morocco subsidizes the prices of wheat, sugar and cooking gas.

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