PARIS, April 10 (Reuters) – Morocco will offer this
month almost the same wheat import subsidy for Black Sea
shipments as for other origins, eroding an advantage held by
European Union supplies, a document published by state grain
agency ONICL showed.
For milling wheat cargoes shipped in April from Russia,
Ukraine and other countries using Black Sea ports, Morocco will
offer a subsidy of 70.64 dirhams ($6.92) per quintal (0.1
tonne), slightly below a 71.58 dirham ($7.02) per quintal rate
for other origins, the document showed.
On a per tonne basis, this means Black Sea cargoes would
receive a subsidy of about $1 per tonne less than other origins,
whereas previously the gap was more than $10.
The move, recently the subject of market rumours, follows a
decision by Morocco in March to award the subsidy for cargoes
loaded by the end of the month, unlike previously when ships had
to arrive in Morocco by the month’s end.
An ONICL official had said last month’s decision was partly
aimed at encouraging shipments from the Black Sea region.
Morocco has stepped up imports after a drought-hit harvest
last year, turning mainly to traditional supplier France and
other EU supplies like German wheat.
(Reporting by Gus Trompiz; Editing by Richard Chang)
