Morocco’s O.N.I.C.L. will provide subsidies for the import of up to 2.5 million metric tons of milling wheat, according to O.N.I.C.L., between July 1 and September 30 of this year.
Despite harvesting another crop with below-average numbers this year–albeit with production exceeding drought-ravaged 2022 levels–traders had anticipated the North African nation to resume wheat imports.
According to a statement from O.N.I.C.L., the government would offer subsidies for wheat from countries including Russia, Ukraine, France, Germany, Argentina, and the United States.
The program will reimburse importers the price differential each month between the cost of imported wheat and a benchmark price of 270 dirhams per quintal ($271.60 per ton).
In contrast to previous circumstances when cargo ships were actually mandated to arrive in Morocco by the end of the month, the program would retain a provision in conjunction with the previous import campaign earlier this year, in which importers could obtain the subsidy should the goods be loaded by the end of each month.
With 4.7 million tons of wheat shipped during the 2022–23 season–which incidentally, concludes at the end of this month–Morocco will have surpassed Algeria in this respect, as the latter has made a marked shift toward Russian wheat.