Morocco Turns to Russian Wheat Amid Declining French Supplies
In a significant shift in its grain import strategy, Morocco is poised to import more wheat from Russia than from France during the 2024-2025 season. The head of the National Federation of Grain and Legume Traders, Omar Yaakoubi, stated that Morocco needs to import approximately 5 million tonnes of soft wheat due to a poor domestic harvest caused by drought conditions. This move underscores the changing dynamics in the global grain market, particularly as France faces a decrease in its wheat crop.
Yaakoubi explained that French wheat exports to Morocco are expected to drop to 1.5 million tonnes this season, down from 2.8 million tonnes previously. This decline is attributed to France's inability to meet the rising demands of the Moroccan market. Consequently, Morocco is now looking towards other suppliers, with Russian wheat emerging as a more competitive option since last August. In addition to Russia, Morocco is also considering imports from Romania, Bulgaria, Ukraine, the Baltic states, Poland, and Germany.
The shift to Russian wheat is not just a response to supply issues; it also reflects the competitive pricing of wheat from the Black Sea region, which has become increasingly attractive to Moroccan traders. As the market adjusts, there is an expectation that imports from countries like Argentina and Brazil will also play a role in meeting Morocco's wheat needs. This situation highlights the importance of diversifying supply sources in the face of changing agricultural outputs and market conditions.
