Morocco Seeks to Capitalize on Wheat Prices Decline to Secure Five-Month Supply
Morocco aims to boost its wheat imports and stockpiling to cover local needs for the next three to five months.
Abdelkader El Alaoui, President of the National Federation of Mill Owners, told SNRTnews that the North African country aims to capitalize on the decline in international wheat prices, especially soft wheat.
Alaoui said that global grain prices have been declining since May, which could prove beneficial for the North African country to strengthen its stockpiles, especially in soft wheat, which is primarily used to produce bread and pastries.
He said the reference price for delivering wheat to mills ranges between MAD 250 ($27.9) and MAD 255 per quintal, which halts the state subsidiary for the commodity as it is conditional that the cost per quintal exceeds MAD 270 ($30).
The expert emphasized that the government subsidy is granted in the form of compensation that covers the difference between the import cost and the field delivery price of MAD 270 ($30) per quintal.
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