Morocco extends duty aimed at halting soft wheat imports to end-August, traders say
RABAT: Morocco will maintain a customs duty on soft wheat until August 31, effectively extending a halt to imports aimed at protecting the local harvest, the heads of the country’s grain traders association (FNCL) and millers federation (FNM) said on Thursday.
Authorities had introduced a 170 percent customs duty from June 1 to July 31 to deter imports and prioritize marketing of the local harvest.
The measure has now been extended for a further month because of the slow pace of collection of the domestic harvest, FNM President Moulay Abdelkader Alaoui and FNCL President Omar Yacoubi told Reuters by phone.
Morocco, one of the world’s largest wheat importers, expects cereals output, including soft wheat, to double to 9 million metric tons this season. However, only 0.5 million metric tons has been collected so far, well below the target of at least 1.5 million tons by the end of July, as many farmers keep the wheat for themselves, Alaoui said.
