French wheat exporters expect to ship 2.5 mln tonnes to Morocco by June 2024
Morocco is expected to buy 2.5 million tonnes, or half of its soft wheat needs, from France this season ending June 2024, Yann Lebeau, Maghreb region head at French wheat professionals group Intercereales, said.
France has already shipped 1 million tonnes to the drought-hit country this summer, Lebeau toldReuters.
Last year, French wheat represented 60% of Moroccan imports, or 2.88 million tonnes.
After drought reduced its domestic crop for a second year, Morocco launched an initial import programme for the 2023/24 season targeting 2.5 million tonnes for the period July-September 2023.
Logistical and financial issues relating to subsidy payments meant Morocco imported only 80% of the 2.5 million tonne target, Abdelkader Alaoui, head of the industrial millers federation told Reuters on the sidelines of a wheat conference.
Moroccan grains agency ONICL announced last week a new scheme to import 2 million tonnes over October-December but has not yet revealed the subsidy amount.
“If Morocco manages to import 4 million tonnes by December that would cover the country’s needs up to April,” said Alaoui, who expects the October subsidy to be 22 dirhams per quintal.
Traders at the conference said they expected Morocco to keep the same subsidy for all origins, including Russian.
One ship carrying 27,000 tonnes of Russian wheat has already unloaded and others are expected to arrive in the country, said one trader.
“We have received a Russian ship but we had operational difficulties, notably those linked to payments,” said Omar Yacoubi, head of Morocco’s grain and cereals traders federation FNCL.
Besides French grain, Morocco increased soft wheat imports from Poland, Lithuania, Czech Republic, Bulgaria and Romania and remains open to opportunities in the Black Sea, he said.
Source: Reuters (Reporting by Ahmed El Jechtimi; Editing by Sharon Singleton, Alexandra Hudson)
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