Morocco to increase wheat inventories

Morocco to increase wheat inventories

Morocco will start in April bolstering its inventories of soft and hard wheat in implementation of royal directives, agriculture minister said.

He said the new reserves will bolster the already existing wheat stocks of five months and will be managed by state agency for grains and cereals ONICLE.

Speaking to MPs, Sadiki said that building up stocks of other essential goods faces the challenges of a surge in prices on the back of the ongoing war in Ukraine.

The government will continue its subsidies to farmers by distributing animal feed to help mitigate the impact of drought, he said.

Out of 3.52 million hectares of cereals, 53% has been lost while only 21% is in good condition, he said.

Morocco has imported 18 million quintals since November, which cost the state budget a subsidy of 1.7 billion dirhams to keep price stability, he said.

Meanwhile, Morocco’s exports of citrus fruits and tomatoes rose sharply. The country exported 657,000 tons of citrus fruits and 513,000 tons of tomatoes.

This has led to a surge in prices of tomatoes in the domestic market amid a growth in demand on Moroccan exporters, he said.

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