The Crédit Agricole Maroc banking group on Tuesday (June 5th) signed an agreement with farmers’ cooperatives and their Union (UNCAM), and the National Federation of Millers at a ceremony chaired by Minister Aziz Akhannouch of Agriculture .
This agreement commits the bank to make available to agricultural cooperatives subsidized loans for the purchase and storage of wheat harvested this season.
Morocco will have to record 9.82 million tonnes of 2018 wheat, equivalent to the rate of the previous year. In 2017, Morocco’s total soft wheat imports were 4.2 million tonnes, compared with 2.1 million tonnes of maize, 850 000 tonnes of durum wheat and 440 000 tonnes of barley.
It should be recalled that in 2015, the Moroccan authorities increased customs duties on soft wheat imports to 75 pc, against 17.5 pc to protect the local harvest. Wheat is one of the most important products in the daily life of Moroccans.
Agriculture represents more than 15% of the Moroccan economy and employs nearly 40% of the active population.
Trending
- Exclusive: Emmanuel Macron expected in Cotonou
- Ebid secures major credit rating upgrade from Moody’s, affirming steady climb to investment grade and growing relevance in West Africa.
- Dangote: how Benedict Oramah and Simon Tiemtoré are preparing the IPO of the century in Africa
- Dangote Petroleum Refinery closes a $2.5 billion private placement and prepares for its IPO
- EBID President Calls on NiBS Graduates to Lead Beyond Borders with Integrity and Purpose
- India-Namibia: Trade exchanges reach $592.94 million
- Morocco: Budget deficit decreases by 5.5 billion dirhams at the end of July 2026
- Egypt: Sinai Manganese aims for an annual capacity of 50,000 tons by 2028
Morocco: a Crédit Agricole / Producer partnership to support the wheat sector
Amadjiguéne Ndoye
Economic journalist with a Master’s degree in Communication and Journalism from the Higher Institute of Information and Communication Sciences in Dakar (ISSIC). Avid reader and music enthusiast. Feminist at heart and passionate about fashion.
Add A Comment
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com