Morocco will provide subsidies for wheat imports between May 1 and Dec. 31, state grains agency ONICL said, indicating the North African country will continue importing wheat for the whole of 2024 as it responds to a drought-hit harvest.

In a statement on its website, ONICL cited a decision by Morocco's finance and agriculture ministries and said details of the import scheme would be announced subsequently by the agency.

After drought hurt its previous crop, Morocco has organized successive subsidy programs since last July to bring in several million metric tons of wheat, with the current scheme running through the end of April.

The upcoming cereal harvest is forecast to be much worse, with the authorities projecting production at less than half last year's level. That has led to expectations that soft wheat imports in 2024-25 could exceed the roughly5 million tons anticipated this season.

Source: Reuters