FINANCIAL NEWS

Morocco to raise tariffs on wheat imports

09 May 2010

(MENAFN) An official at the Moroccan government said that Rabat will raise tariffs for soft wheat imports to 135 percent from 90 percent for the June 1-December 31 period to shield local farmers from foreign competition, Reuters reported.

The measure aims at protecting the domestic crop of soft wheat and to help farmers sell their harvest without pressure on the prices from foreign competition, the official said.

Last month, Agriculture Minister Aziz Akhennouch said Morocco was likely to import around 3.6 million tons of soft wheat to meet domestic demand as the national grain harvest would decline this season from last year’s record.

He said he expected a 2010 national cereals harvest of around 8 million tons, down from last year’s 10.2 million tons but above this decade’s average of 6 million tons.

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