State reactivates soft wheat import support from September 16
Morocco is reinstating its support mechanism for soft wheat imports for industrial milling from September 16 to December 31, 2026. This measure, detailed in a circular from the National Interprofessional Office of Cereals and Legumes ONICL dated August 18, follows a joint decision by the Ministries of Economy and Finance and Agriculture on August 3. The support involves a flat-rate premium adjusted monthly based on the difference between the average cost of imported wheat at port exit and a reference price of 270 DH per quintal. This reactivation comes as the national harvest collection fell short of expectations, reaching approximately 6 million quintals against an initial target of 15 million, covering only about 12% of industrial millers' annual needs. Additionally, international wheat prices have led to a difference of 14.5 to 15 DH per quintal compared to the Moroccan reference price, which the mechanism aims to absorb. The premium calculation will consider origins such as France, Germany, Argentina, and the United States, factoring in international quotations, maritime freight, and the dollar-dirham parity. The imported wheat must be delivered exclusively to industrial mills, and operators must ensure that consumer prices reflect the state's support. The payment of the premium will occur in two stages: 80% upon import and the remaining 20% upon documented delivery to industrial mills.