Morocco’s Olive Oil Boom: Historic Harvest Slashes Prices by Half

The figures put forward by Rachid Benali, president of the olive oil sector (Interprolive), are dizzying. Olive oil production could reach the unprecedented threshold of 200,000 tons. A real leap forward, when we know that the historic record of the sector, dating back to 2009-2010, struggled to reach 160,000 tons.

This success is the result of a rare alignment of the planets. On the one hand, a finally clement weather in the five major production regions has put an end to a long cycle of drought. On the other hand, the 250,000 hectares of the Green Morocco Plan, planted years ago, have finally reached maturity, boosting volumes in a spectacular way.

With such abundance, the price mechanism should logically be reversed. With production far exceeding the 140,000 tons of national consumption, the market will be amply supplied. The surplus will be exported, and for the Moroccan consumer, the result will be concrete: the liter of olive oil should return to be traded around 50 dirhams.