Morocco to keep low import duty regime for wheat

RABAT May 16 (Reuters) – Morocco will keep import duties on soft wheat suspended until the end of May before raising them to 17.5 percent in the June 1 to end-December period as it braces for higher imports, official and trade sources said on Wednesday.

A combination of dry weather and long cold spells reduced its cereals harvest to 4.8 million tonnes this year, a 43 percent drop from the previous season.

A senior government official said import duties on barley and durum wheat will remain suspended until the end of 2012, confirming information obtained from Paris-based traders and members of Morocco’s private National Cereals Traders Association (ANCL).

“For soft wheat, the import duty will remain suspended until the end of May. It will then raised to 17.5 percent for the rest of 2012,” the official said.

(Reporting By Souhail Karam)

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Posted on May 16, 2012, in Business, Morocco News and tagged , , . Bookmark the permalink. Leave a comment.

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