Мorocco has purchased 300,000 tons of wheat from the EU, bypassing Russian competition: wheat prices in the EU have dropped to a minimum.

Мorocco has purchased up to 10 shipments of wheat from the European Union totaling 300,000 tons, ignoring tough competition from the Black Sea region, including Russia. The majority of the wheat will be supplied from EU countries.

Russian wheat remains the main competitor, but prices are rising due to attempts to control exports.

9 November 2024

According to market operators, Morocco has purchased up to ten batches of wheat totaling 300,000 tons from the European Union in the past days, with delivery scheduled for November of this year. This happened even amidst stiff competition with grain from the Black Sea region, including Russia, Reuters reports.

The majority of the purchased wheat, as clarified, will be delivered from northern EU countries, such as the Baltic states, Germany, and France.

The increased demand is driven by a decrease in wheat futures prices from the EU to a two-month low, while prices for Russian wheat show an upward trend due to attempts to control export prices. However, Russian wheat remains a major competitor to European wheat, and it is expected to dominate the wheat import market in Morocco this season.

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Мorocco has purchased 300,000 tons of wheat from the EU, bypassing Russian competition: wheat prices in the EU have dropped to a minimum.

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