Moroccan Olive Oil Exports Surge Despite Drought, Driving Local Prices to Record Highs

According to a recent report from the European Commission, Moroccan olive oil exports to the European Union reached 841 tons between October and November 2024, compared to 553 tons for the same period of the previous campaign.

This explosion of exports to the EU has led to a surge in prices on the local market, reaching more than 100 dirhams per liter, reports Al Ahdath Al Maghribia, adding that Moroccan olive exports to the EU have stabilized at 12,000 tons at the start of the current campaign.

While Moroccan exports have seen a notable increase, European imports of olive oil have fallen by 31.4% between October and November 2024, from 27,397 tons to 18,802 tons, it is specified. The persistent drought, as well as the heat and cold waves ravaging Morocco, are to blame.

Faced with this situation, Moroccan farmers are increasingly opting for the cultivation of foreign olive varieties, particularly the Spanish Arbequina, due to its higher yield compared to the Moroccan variety, the Picholine, and its adaptation to drip irrigation, recommended to ration water.