Morocco allows olive oil imports from Brazil amid production decline
Facing an 11% drop in olive oil production due to consecutive droughts, Morocco has taken a significant step to secure its domestic supply by authorizing the import of 10,000 tons of Brazilian olive oil by the end of 2024. This move was warmly welcomed by the Brazilian government as a notable advancement for the country's agribusiness sector.
In a statement, Brazil’s Ministry of Agriculture highlighted Morocco as its third-largest African market for agricultural exports, with trade exceeding $903 million from January to September 2024. The new olive oil imports build on previous import authorizations for dried distilled grains (DDGS) from Brazil, further strengthening commercial ties between the two nations.
In Morocco, the olive oil industry, especially in areas like El Kelâa des Sraghna, has been severely impacted by droughts and rising costs, causing a 50% reduction in olive mill operations. To help alleviate living costs and stabilize supplies, Morocco has also announced the removal of VAT and import duties on various food items, including olive oil, starting in 2025 through the Finance Bill 2025.
This strategic partnership between Morocco and Brazil not only addresses immediate needs but also reflects a mutual commitment to strengthening trade relations and enhancing Morocco's food resilience while allowing Brazil to expand its market reach in Africa.
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