Morocco can triple argane oil production, agro-alimentary federation

Morocco's national production of Argane oil which is currently estimated at 4000 tons per year can be tripled, said the Moroccan agro-alimentary federation (FENAGRI) in a release.

One liter of Argane oil costs at present 250 DHs (US $25) compared to 25 Dhs (US $2.5) in the eighties, underlined the federation, explaining the upsurge in prices by the reduction of Argan trees planting area and the increase of demand.

The growing demand for Argan oil drew the interest of French operators in this industry and resulted in the development of international commercialization networks of Argan oil, the release underlined, adding that it is currently sold via internet to meet the demand.

FENARGI said several efforts were made to protect and rehabilitate the Argan oil industry.

According to the federation, a convention was recently signed between Moroccan finance and privatization minister, Fathallah Oualalou, and European commissioner in charge of external relations, Chris Patten, to finance a 60 million DHs (US $6 million) project to improve oil's production quality and set up a regulation to protect the product.