The Moroccan government has taken preventive measures to limit the export of olive oil, which should help to curb the rise in prices of this product, which is very popular with consumers.
The price of a liter of olive oil has continued to rise, reaching a record of 100 dirhams. To contain this inflation, and cope with strong demand from Moroccans, the authorities have taken measures to limit the export of this product. These measures will remain in force until the end of 2024, announced the Directorate of Customs and Indirect Taxes.
“We have asked to limit the export of olive oil, because prices have increased significantly and are likely to increase further due to the drought. The situation is catastrophic not only in Morocco, but throughout the western Mediterranean,” Rachid Benali, president of the Moroccan Interprofessional Olive Federation, told Le Monde newspaper.
Morocco, one of the ten largest olive oil producers in the world, is hit by a severe drought, with temperatures exceeding 35°C in the Meknes region, the kingdom’s main production area. A situation that affects harvests. “Rainfall is decreasing, summers are hotter and winters are not cold enough, which slows down the growth of shoots and reduces yields,” explains a farmer.
Now the export of pure or chemically unmodified olive oil, as well as other olive oils and components, is limited. These restrictions particularly concern the regions of Marrakech-Safi, Oriental and Beni Mellal-Khenifra, with drops of 42%, 17% and 10% respectively. It remains to be hoped that these measures will contribute to lowering prices.
