Morocco and Argentina have concluded a significant trade deal involving importing 30,000 tons of soybean-derived products to Morocco, Conso News reported. The move underscores the growing interdependence between the two nations in strategic sectors such as animal feed and phosphates.
According to the Argentine port authority, Morocco has purchased 24,000 tons of soybean meal, a vital component for animal feed, and 6,000 tons of soybean hull pellets, used for various purposes, including industrial applications.
The strategically important shipment is scheduled to depart the port of San Lorenzo, Argentina, on December 27. The cargo will be transported aboard a Maltese ship, the ZBB SERENITY.
Soybean prices have been stabilizing, trending downward since October. Current market rates are USD 373 per ton for soybean meal and USD 292.1 per ton for soybean hull pellets. The current favorable market price is providing Morocco with a strategic opportunity to meet its growing demand for raw materials for animal feed and industrial uses.
In a reciprocal move, Morocco plans to ship two consignments of phosphate products to Argentina. The exchange highlights the deepening trade ties between Rabat and Buenos Aires, focusing not only on imports and exports of raw materials but also on collaboration in key sectors.
The soybean deal is part of a broader trend of economic rapprochement between Morocco and Argentina. By combining their strengths, the two countries are positioning themselves as strategic partners, fostering a durable and mutually beneficial collaboration.
With these initiatives, Morocco is diversifying its supply chains, reinforcing its food and industrial security, and strengthening its global market presence.