Morocco Turns to European Imports to Address Olive Oil Shortage

52 companies have been selected as part of the import of 10,000 tons of virgin and extra virgin olive oil, learns Hespress, adding that this merchandise will be imported from Spain, Tunisia, Italy and France. An inter-ministerial commission, composed of representatives from the Ministries of Commerce, Agriculture and Customs, has already distributed the quota among the selected importers. They will benefit from this government initiative, which aims to supply the domestic market with virgin olive oil and extra virgin olive oil from abroad, in order to contribute to the drop in prices of this commodity.

In November, the Ministry of Industry and Trade suspended customs duties on the import of virgin and extra virgin olive oil, within the limit of a quota of 10,000 tons. 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, which represents a decrease of 11% compared to last year and 40% compared to the good years.