Morocco Greenlights Olive Oil From Brazil

11/6/2024 2:23:02 PM

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Morocco has authorized exports of olive oil from Brazil into its market, the federal government announced in a statement on Tuesday (5) afternoon.“The Brazilian government is pleased with the Moroccan government's announcement that it has cleared exports of Brazilian olive oil to the Moroccan market,” the statement reads.

The move comes in spite of the fact that Morocco is one of the biggest olive oil producers in the world. Weather conditions have impacted olive and olive oil production around the world in the past few years, leading to price hikes and supply issues. Brazil has been investing and scaling up its olive oil manufacturing, but volumes still fall short of meeting domestic demand.

“Although Morocco is a major producer, drought has impacted olive trees over the past six years, so oil is in short supply and prices are very high right now,” Brazil's agricultural attaché to Rabat, Ellen Elizabeth Laurindo, explains. According to her, the Moroccan government is allowing tax-free imports of up to a 10,000-ton quota through the end of the year, and this is expected to continue going into 2025.

The Arab country has taken additional steps to allow Brazilian products in this year. Last September, it cleared distiller's dried grains (DDG) and distiller's dried grains with solubles (DDGS), and last October, it lifted VAT charges on the import of up to 20,000 tons of cattle, sheep, goat, and camel meat from Brazil.

Morocco is a partner

The Brazilian Ministry of Agriculture and Livestock said the developments are a result of its work alongside the Ministry of Foreign Affairs and highlighted Brazil's partnership with Morocco in agriculture. According to the Agriculture Ministry, Morocco was Brazil's third biggest agricultural export destination in Africa, with sales amounting to USD 1.23 billion, and from January to September of this year, sales surpassed USD 903 million. Conversely, Morocco is a major supplier of fertilizers to Brazil.

Read more:
Morocco exempts Brazilian meats from taxes
Morocco allows feed ingredient imports from Brazil

The post Morocco greenlights olive oil from Brazil appeared first on ANBA News Agency .

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