North African Market: A Strategic Opportunity for Wheat Exporters
The North African market, with its 30 million tons of imported wheat per year, represents a strategic opportunity for exporters. As Russia consolidates its position in Egypt and Algeria, it is now turning its attention to Morocco, the third-largest regional market.
Morocco's Wheat Shortage: A Window of Opportunity
In 2023-2024, a severe drought reduced Morocco's wheat harvest by 42%, reaching only 3.3 million tons, a third of local needs. Meanwhile, France, Morocco's historical supplier, recorded a 25% drop in production, leaving the field open to Russian exporters.
Russia Takes Advantage of the Situation
With competitive prices and attractive quality, Russia shipped 700,000 tons of wheat to Morocco between July and November 2024, far surpassing the 300,000 tons from France. In August, Russia even became the largest supplier to the Kingdom, dethroning France for the first time.
A Record Year for Wheat Imports
As Morocco plans to import a record 7.5 million tons in 2024-2025, Russia aims to reach 1 million tons, almost double the previous year's amount. The competition between Paris and Moscow is expected to be fierce, potentially redefining the Moroccan cereal landscape.
