Morocco Suspends Olive Oil Import Duties Amid Production Shortfall

The Ministry of Industry and Trade has indeed decided to suspend customs duties on the import of virgin and extra virgin olive oil, within the limit of a quota of 10,000 tons. A real breath of fresh air for Moroccan consumers who are facing soaring prices.

This exceptional measure, valid until December 31, 2024, aims to ensure the supply of the domestic market in the face of a disastrous olive harvest. According to the Ministry of Agriculture, national production is capped at 950,000 tons this year. A low figure, down 11% from last year and 40% from good years.

Importers interested in this quota have until November 25, 2024 to submit their file to the Ministry of Industry and Trade. An interministerial commission, composed of representatives from the Ministries of Commerce, Agriculture and Customs, will be responsible for allocating the quota among the various candidates.

However, there is no question of dumping the market. The objective is to maintain a balance between supply and demand, and to guarantee affordable prices for Moroccan consumers.