War in Ukraine will not affect Morocco’s wheat supply

War in Ukraine will not affect Morocco’s wheat supply

The war in Ukraine will not affect Morocco’s wheat supply but will have an impact on prices, said government spokesman Mustapha Baitas.

Morocco has a diversified wheat basket with Russia and Ukraine representing 25% and 11% of Moroccan supplies respectively, he said.

Morocco does not import hard wheat from the two Black Sea markets, he said.

Head of Moroccan millers’ federation told Medias24 that soft wheat stockpiles cover 5 months.

Morocco subsidizes the price of wheat delivered to industrial millers at a standard piece of 270 DH, the difference is paid by the state budget through the compensation fund.

Separately, the minister attributed the soaring tomato prices to the huge demand on the Moroccan produce at the international market and to brokers.

On Thursday, several cabinet members held a meeting to discuss the national economic and financial situation, examine the potential impacts of the Ukrainian crisis on the Moroccan economy and propose solutions to economic operators to deal with the current situation.

The meeting was attended by the Ministers of Foreign Affairs, and of Economy and Finance, Bank Al-Maghrib (Central Bank), Tamwilcom, the Exchange Office and the presidents of the General Confederation of Moroccan Enterprises (CGEM) and the Professional Group of Moroccan Banks (GPBM).

Share This