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Russian Wheat: Moroccan Importers Seek to Diversify Supply Sources

Rabat – Moroccan wheat professionals are exploring ways to diversify supply sources and are considering an expansion into the Russian market.

On Monday, professionals from the sector held a meeting in Rabat with Russian suppliers to address changes faced, in terms of wheat imports from both Russia and Ukraine.

The President of the National Federation of Grain and Legumes, Omar El Yaacoubi, outlined the challenges faced by the professionals in the sector, stressing that importers are exploring means to increase the number of countries supplying wheat to Morocco.

As SNRTNews quoted, El Yaacoubi has reported that the recent discussions focused on addressing challenges related to performance banking and communication, in order to secure grain purchases across the Black Sea.

According to the federation’s president, importers suggest that Russia should “ensure the safe passage of ships to Morocco, or secure them at least when crossing from the Black Sea to the Mediterranean.”

While discussing the challenges, El Yaacoubi reassured the public about Morocco’s market stability, stressing that there are no shortages.

“Grain traders have sufficient resources to meet the needs of Moroccan consumers,” quoted SNRTNews of the federation’s president. 

The news outlet emphasized the federation’s previously announced compensation system for importers that are acquiring a maximum of 25 million quintals of soft wheat between July and September.

The mechanism includes a state grant, which compensates importers for the difference between the import and the reference price set at MAD 270 per quintal.

During the meeting, President of the National Federation of Mills Moulay Abdelkader Alaoui discussed the sector’s challenges, stressing that the country’s mills prefer using high-quality imported grains from specific markets, including Europe, Russia, and Latin America.

Alaoui argued that the high-quality imported grains have a significant impact on the quality of flour.

In September, Russia expressed its readiness to supply Morocco with wheat, emphasizing the importance of partnership between the two countries.

Russian ambassador to Morocco Vladimir Baibakov said in an interview with the Russian news agency that his country is ready to cooperate with Morocco in the sector, amid the intensifying energy and food crisis.

He stressed that the two countries “buy goods that are most demanded on their markets from each other.”

“In 2022, the kingdom was the third-largest in terms of exports and the fourth-largest in terms of imports,” he said, noting that trade between the two countries surpassed the $2 billion mark following the Covid-19 pandemic.

Source : Morocco World News