Morocco's cereal imports drop by 70% in past 8 months

Morocco's cereal imports dropped by 70% between June 2003 and January 2004 to reach 2.09 million tons, against 2.97 million tons during the same period of 2002-2003, the Moroccan inter-professional office of cereals and leguminous plants (ONICL) said.

Corn and wheat make 38% of imports each, ONICL says, adding that 84% of cereals traffic was processed through the Casablanca port, followed by the Agadir port (9%).

The United States tops Morocco's cereal providers with 28% of the total, followed by France (19%), Argentina (17%), Canada (16%), Brazil (10%).

Morocco's cereal stocks amounted to 983,000 ton by end of January 2004, the office said, adding that soft wheat reserves (700,000 T) cover industrial mills' needs for three months.

Morocco's trade deficit soared to 25.26 billion dirhams (around US$ 3 billion) in 2003, i.e. 18.7% worse than in 2002, as a result of a 4% increase in imports and a 3.6% decrease in exports, according to temporary figures released last week by the exchange office.

The total foreign trade amounted to 218.87 billion dirhams in 2003 ("1%), including 35.56 billion Dh of imports ("4%) and 83.30 billions of exports (-3.6%), the office goes.