According to Intercereales experts, Morocco may reach up to 2023 to 4,5 million in 5 due to the reduction in its own wheat production Tonnen Grains import, which will significantly exceed the value expected this year (2,5 million tons), reports Reuters.
The prospect of a significant increase in wheat imports will come as the grain harvest in Morocco in 2022 fell by 67% per year to 3,4 million tons due to the severe drought, of which softer Wheat was only 1,89 million tons.
It is also noted that Morocco produces on average about 3 million tons annually Wheat imported.
According to market operators, Morocco's strategic wheat reserves are capable of meeting domestic demand within 5 months, while the creation of additional reserves has been delayed due to high grain prices compared to price levels in 2021. Morocco's expenditure on importing wheat increased to US$7 billion in the first 1,6 months of this year compared to the same period last year.Dollar doubled.
As a reminder: To see the prices for all-purpose flour To keep markets stable, the Moroccan government has suspended tariffs on soft wheat, and traders expect this decision to take effect as long as grain prices remain high.