Home » Morocco Bans Olive Oil Exports in Bid to Control Rising Prices
Business Global News Morocco News

Morocco Bans Olive Oil Exports in Bid to Control Rising Prices

Officials say the ban will stem olive oil price increases in the country. It won’t help elsewhere.

Morocco’s agriculture ministry has approved a decree to ban olive oil exports to stem skyrocketing prices on the domestic market.

The announcement makes Morocco the third major olive oil-producing country to implement an export ban after officials in Turkey took similar measures in August, followed by Syria in September.

Officials in both countries also cited rising olive oil prices in their decisions to implement the export prohibitions.

Currently, one liter of olive oil in Morocco retails from anywhere between 120 and 150 dirhams (€11 to €14), roughly 64 percent higher than the average price of August 2022. Morocco’s average monthly salary after tax is about 3,900 dirhams (€360).

Rachid Benali, president of the Moroccan Olive Interprofessional, said the measure aims to “protect the purchasing power of Moroccan consumers.”

Despite a poor harvest last year, which the government blamed on drought, Morocco remains Africa’s second-largest olive oil producer and exporter behind Tunisia.

According to data from the International Olive Council, the country produced 156,000 tons of olive oil and exported 28,000 tons in the 2022/23 crop year.

Officials in the agriculture ministry attributed the rising olive oil prices in the country to shortages across the Mediterranean following the lowest level of global production since the 2016/17 crop year.

While farmers and officials in Morocco are hopeful that the coming harvest will exceed the previous one, global prices are expected to continue rising, with another very poor harvest anticipated in Spain, the world’s largest producer.

Even as officials seek to lower prices at home, Morocco’s decision to ban exports could contribute to further price increases in Europe.

According to data from Spain’s Ministry of Industry, Trade and Tourism, roughly 3 percent of the country’s total olive oil imports came from Morocco in the first seven months of 2023. Meanwhile, 11 percent came from Turkey and 2.5 percent from Syria in the same period.

Making up 16.5 percent of Spanish imports in the first seven months of 2023, nearly 18 million kilograms of olive oil, some officials warn that the combined bans will further limit supply and keep upward pressure on near-record prices.

“If a supplier stops supplying people who do not have as much, let’s say that the situation that exists at the moment worsens, and there is a lower availability of oil in the market, consequently,” Rafael Pico Lapuente, the executive director of the Spanish Association of Olive Oil Exporters, Industry and Commerce (Asoliva), told The Objective.

Source : Olive Oil Times

Instagram

Instagram has returned empty data. Please authorize your Instagram account in the plugin settings .

Advertisement

Advertisement Small

Flickr

  • Capiton
  • Neons
  • Sugar version
  • Corbeille
  • Katia
  • Les anémones
  • Rêverie
  • L'usurier
  • Ha Phurong (actress, "Cu Li never cries" - Pham Ngoc Lan) Vietnam - Berlinale 74°

ThemeForest

Collaboratively harness market-driven processes whereas resource-leveling internal or "organic" sources. Competently formulate.

Calendar

March 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031

RSS Meks Blog

  • 10 Best Knowledge Base & Wiki WordPress Themes 2021 September 15, 2021
    Running a successful online business requires an exceptional WordPress knowledge base theme that organizes documentation and helps customers. Customization options, intuitive navigation, unique layouts, and fast responsiveness are just some of the features you need. The following 10 WordPress wiki themes represent the best options for 2021 and beyond. Explore the full range to determine […]
    Dusan Milovanovic
  • How to increase WordPress Memory Limit (quick fixes) June 16, 2021
    Here is a post about how to increase the memory limit in WordPress. Allowed memory size exhausted error message showed up in your WordPress installation? No worries – this is one of the most common errors in WordPress. You can apply an easy fix by increasing the memory limit in your PHP. Table of Contents […]
    Dusan Milovanovic
  • How to use (and why) WordPress sitemap plugin March 1, 2021
    Did you know that by knowing how to use the WordPress sitemap plugin you can significantly improve your site’s visibility and traffic? Although it isn’t mandatory to have a sitemap on your site, having one significantly improves the site’s quality, crawlability and indexing. All this is important for better optimization, which is why we wanted […]
    Ivana Cirkovic
  • 22 free and premium podcast software for your show [2021 edition] January 18, 2021
    You’re determined to start or improve your podcast but don’t know which podcast software to use to really make it stand out? We’ve got you! #podcasting Top 22 free and premium podcast software for your show #WordPressTips #podcasting The post 22 free and premium podcast software for your show [2021 edition] appeared first on Meks.
    Ivana Cirkovic
  • Digital storytelling with WordPress – an all-in-one guide to make your web stories pop! November 23, 2020
    Wondering how to improve digital storytelling with WordPress and build more awareness and exposure of your business? Let our guide lead the way. The post Digital storytelling with WordPress – an all-in-one guide to make your web stories pop! appeared first on Meks.
    Ivana Cirkovic
  • How to use WordPress autoposting plugin to improve your visibility and SEO? September 10, 2020
    Did you know you can use the WordPress autoposting plugin for your content efforts and improve not only your time management but your business and visibility as well? The post How to use WordPress autoposting plugin to improve your visibility and SEO? appeared first on Meks.
    Ivana Cirkovic
  • How to create a personal branding site? Step-by-step DIY guide August 15, 2020
    Looking for ways and means to create a personal branding site? Well, look no further ’cause we’re giving away all the how-to’s to do it yourselves! The post How to create a personal branding site? Step-by-step DIY guide appeared first on Meks.
    Ivana Cirkovic
  • Top 15 WordPress content plugins and tools to improve your visibility and rankings July 16, 2020
    Let’s take a look at some of the must-have WordPress content plugins and tools to use to improve both your UX and rankings. The post Top 15 WordPress content plugins and tools to improve your visibility and rankings appeared first on Meks.
    Ivana Cirkovic
  • WCEU 2020 recap – key takeaways from the biggest online WordPress conference June 9, 2020
    Missed WCEU 2020 and all the exciting stuff from there? Here are all the key takeaways and main points to remember so, take notes! The post WCEU 2020 recap – key takeaways from the biggest online WordPress conference appeared first on Meks.
    Ivana Cirkovic
  • How to change the WordPress username? An easy step-by-step guide May 14, 2020
    Wondering how can you change WordPress username once you set up your blog or site? Read all about it in our helpful guide! The post How to change the WordPress username? An easy step-by-step guide appeared first on Meks.
    Ivana Cirkovic

Text

Distinctively utilize long-term high-impact total linkage whereas high-payoff experiences. Appropriately communicate 24/365.