FINANCIAL NEWS

Morocco expects good grain season this year

26 May 2010

(MENAFN) Moroccan state grains agency ONICL said that the Kingdom is likely to produce 3.8 million tons of soft wheat this year and that damage to the crop from recent adverse weather is limited, Reuters reported.

Last year, the north African country saw record grains production of 10.2 million tons, including 4.3 million tons of soft wheat, enabling it to slash imports.

Morocco is usually one of the world’s biggest grain importers, buying mostly from France, Germany and the United States. Its national cereals harvest can swing widely from year to year because of cyclical droughts.

Merchants, cooperatives and processors licensed by the ONICL tend to collect between 55 and 60 percent of national soft wheat output.

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