Morocco Approves Import of Brazilian Olive Oil Amid Drought and Shortages
Rabat – Morocco has approved the import of Brazilian olive oil, expanding trade between the two countries amid ongoing drought that has caused shortage throughout the country.
A statement from the Brazilian Agriculture Ministry announced the news this week, noting that the new market access comes after the authorization granted in September for the export of dried distiller’s grains from Brazil to Morocco.
“With this new authorization, Brazilian agribusiness has reached its 193rd market access of the year, totalling 271 opportunities across 61 destinations since the beginning of 2023,” the statement said.
Sharing data about cooperation with Morocco, the ministry said Morocco is the third largest destination for Brazilian agricultural exports in Africa last year. This is attributed to the high value of exports sent to the country, which totals $1.23 billion in value.
From January to September this year, exports to Morocco exceeded $903 million, the press release added.
Morocco’s agricultural seasons over the past six years have been severely impacted by drought, with delayed or insufficient rainfall affecting key crops across the North African country.
The situation has particularly hit the olive oil industry, where production has plummeted, driving up prices.
The cost of a liter of olive oil now stands at between MAD 90 and 95 ($9 – $9.50) – an alarming rise compared to the previous prices of MAD 60 to MAD 75 ($6 – $7.50).
In July former Minister of Agriculture Mohamed Sadiki acknowledged that the country’s olive production is expected to face challenges due to extreme heat.
He said the olive yield this year is projected to decline as a result of unfavorable environmental conditions.
According to a report from the Food and Agriculture Organization, the olive sector is a key industry in Morocco’s agriculture, contributing 5% of the country’s agricultural GDP.
The sector is demanding, requiring more than 51 million workdays annually.
“Morocco ranks among the top ten producers of olive oil and accounted for about 5 percent of global production in 2021,” the report added.