Morocco to encourage the use of local wheat
(Ecofin Agency) - Moroccan government will grant various bonus to mills that will source soft wheat on the domestic market for the yield campaign which begins tomorrow May 16 and ends next October 15, Reuters reports.
This bonus measures include a reduction by MAD10 per 100 kg of soft wheat, from the MAD280 usual price. In addition, a MAD2 premium on the same quantity will be offered to stockholding agencies every 15 days.
This government charm offensive is part of Morocco’s policy to promote locally produced wheat. In this context, the government raised wheat imports’ customs duties from 30 to 135%, a tariff measure which will run till next October 31.
Authorities forecasted last week that the country should harvest 9.82 million tons of cereals in 2018, including 4.81 million tons of soft wheat.