Rabat - Morocco's expenditure on cereal products increased by 21.3% in the first seven months of 2016, official figures showed on Monday.
Rabat – Morocco’s expenditure on cereal products increased by 21.3% in the first seven months of 2016, official figures showed on Monday.
The bill reached 11.1 billion dirhams in the January-July 2016 compared to 9.1 billion dirhams in the same period a year earlier, the Rabat-based Exchange Office pointed out.
This rise is attributed to the increase in wheat and barley imports (+1.3 billion dirhams) and (+0.8 billion dirhams) respectively, the Office said in its note on monthly indicators of foreign trade in July 2016, noting that corn purchases decreased by 0.2 billion dirhams.
The 2016-17 season started under very unfavorable conditions with a significant shortage in rainfall compared to an average year.
On Dec. 23, 2015, Morocco reduced the import duties for bread wheat from 50% to 30% to ensure adequate supplies for the domestic market and to maintain a reference price target of 2,600 dirhams/tonne ($263).