Morocco has established a subsidy on wheat imports
Morocco’s National Office of Cereals and Legumes (ONICL) announced a subsidy on soft milling wheat imports from September 1-30. The subsidy will be 17.2 dirhams per quintal ($16.9 per ton).
The U.S. Department of Agriculture estimates Morocco’s wheat harvest this season at 4.2 million tons, which is more than in the dry last season (2.7 million tons), but less than the five-year average (4.9 million tons).
Morocco’s wheat stocks at the beginning of the current season fell to 1.5 million tons, down from 2.4 million tons last season and the five-year average of 3.6 million tons.
Due to insufficient supply of wheat on the domestic market, Morocco may increase its imports to a record 7 million tons, the U.S. Department of Agriculture forecasts.
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