Morocco to offer subsidies for wheat importers to store grain

Morocco is to offer subsidies for companies that stock imported wheat, state grains agency ONICL said, as the country contends with drought-reduced local production.

The government will offer a subsidy of 2.5 dirhams per quintal, or 25 dirhams ($2.5) per metric ton, every two weeks for up to 1 million tons of imported soft wheat, ONICL said in a note on its website.

The subsidy would apply to wheat imported between Feb. 1 and April 30 and eligible companies would be required to stock the wheat for at least three months, it said.

Morocco is seeking to import several million tons of soft wheat in the 2023/24 season and is currently offering import subsidies for up to 2.5 million metric tons of supplies shipped between Jan. 1 and April 30, 2024.

Traders said the storage subsidy represented a further incentive to import wheat as Morocco endures persistent dryness that has reduced planting for this year’s cereal harvest.

Tags: soft wheat, импорт, harvest, subsidies, Production, wheat, Morocco, Companies