The National Office for Professional Cereals and Pulses in Morocco stated that "Rabat will provide support to companies that store imported wheat, as the country faces a decline in local production due to drought." The office noted in a statement on its website that the government will offer support of 2.5 dirhams per quintal, or 25 dirhams ($2.5) per metric ton, every two weeks for up to one million tons of imported soft wheat.
The support will be applicable to imported wheat from February 1 to April 30, and qualified companies will be required to store the wheat for at least three months. Morocco aims to import several million tons of soft wheat in the 2023/2024 season and is currently providing import subsidies for up to 2.5 million metric tons of supplies that are being shipped between January 1 and April 30, 2024. Traders noted that the storage support represents an additional incentive for importing wheat, as Morocco is suffering from ongoing drought conditions that have led to a decrease in grain crop planting this year.
