Morocco to Increase US Wheat Imports
Morocco will receive its first shipment of 100,000 tonnes of hard wheat from Louisiana this month, the head of the Moroccan Federation of Millers (FNM) Abdelkader Alaoui said, Reuters reported.
Morocco will increase its imports of hard wheat from the United States “purely for economic and financial reasons,” Abdelkader Alaoui said.
He cited the $50 price difference between American wheat and grain from other countries, the lower exchange rate of the dollar against the local currency and the duty-free regime for grain imports.
“We have avoided the American market for a long time because of high prices,” Alaoui said. “Now they have fallen significantly. American hard wheat is rich in protein and has low moisture content, so it is ideal for mixing with soft wheat that we buy from other countries,” he added.
FNM estimates that US hard wheat will account for 5-6% of Morocco’s grain imports this season, or 500,000-600,000 tonnes.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
Romania proposes joint NATO command to protect the Black Sea
Drought in India threatens sugar and biofuel production
Record sunseed harvest in Russia threatens to drive down prices in Kazakhstan
Corn drying costs in Ukraine could exceed the value of the grain at current prices
Oilseeds remain the only profitable segment of crop production in Russia
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon