Morocco has significantly increased its imports of Russian wheat during the current marketing year, reaching 310,000 tons. This figure represents a substantial 45% increase compared to the 213,000 tons imported in the previous year.
This surge in Russian wheat imports underscores the Kingdom’s adaptability in navigating the fluctuating landscape of international agricultural markets. By securing these competitive shipments, Morocco demonstrates its resilience in ensuring stable grain supplies despite global uncertainties.
According to the Russian economic news outlet RBK, an additional 30,000 tons of Russian wheat is currently en route to Morocco from the Polish port of Gdańsk, further solidifying this upward trend.
This development stands in contrast to the import patterns observed in many other countries within the Islamic world, where Russian grain imports have reportedly experienced a sharp decline.
Amidst the ongoing volatility in global grain prices, Morocco’s increased reliance on Black Sea sources reaffirms its strategic focus on securing consistent and competitively priced supplies.
On the Euronext market, the price of milling wheat experienced a slight dip of 0.7% on Friday afternoon, settling at €204.50 per metric ton. Despite a temporary price rebound, overall wheat prices remain under pressure due to optimistic forecasts of abundant harvests in the Northern Hemisphere and strong competition from major exporters, particularly Russia and the United States. Meanwhile, Polish wheat with a 12.5% protein content is currently trading at approximately €218 per tonne, showing a modest increase of ten zlotys over the past week.
SL/te/fss/abj/APA