Today, the government in Morocco will decide to waive import duties on wheat until December 31. This measure is intended to stabilize grain prices in the country and to enable an orderly market with locally produced wheat.
The original plan was to raise import duties to 35% from June 15.
The Moroccan grain harvest is estimated at 3 million tons this year. That is 42% less than last year. It was unusually dry during the growing season. The harvest consists of 1.65 million tons of common wheat, 0.75 million tons of durum and 0.5 million tons of barley.
At the end of April, grain stocks were stored in Morocco for 4.6 months of normal consumption. During the corona crisis, however, consumer demand skyrocketed.
For the time being, the government in Rabat has not raised import duties on durum, lentils, chickpeas and beans.
Source
Hansa Terminhandel GmbH
