Russia aiming to export around 1 mln tonnes of wheat to Morocco this season - exporters' union

MOSCOW. Dec 2 (Interfax) - Russia aims to export around 1 million tonnes of wheat to Morocco during the current season (July 2024 - June 2025).

A memorandum on mutual understanding signed in Casablanca between Russia's Union of Grain Exporters and Morocco's National Federation of Cereals and Legumes Traders will ease exports of Russian grain, the union said on its Telegram channel. It was signed as part of a business mission of Russian exporters to Morocco.

"The memorandum formalizes the agreements reached this season between Russian grain exporters and Moroccan grain traders, who act as importers and distributors of wheat to local millers," Union of Grain Exporters Board Chairman Eduard Zernin told Interfax.

"Our key, one might say, domestic market is the Middle East and Africa [MEA] region. Morocco is the jewel of the region and therefore one of our priority markets," he said. "Since the beginning of the season, Russian wheat exports to the kingdom have already reached 650,000 tonnes, exceeding the figure for the same period last year several times over," he said.

Morocco was among the top 10 buyers of Russian wheat in July-October, while Russia became the kingdom's principal wheat supplier. "Our target level for supplies this season is around 1 million tonnes, and in the future we plan to grow to 1.5 million tonnes a year," he said.

The memorandum is in effect for one year with possible prolongation.

As reported, Russia and Malaysia previously signed a memorandum on supplying Russian wheat to the Malaysian market. Russia is able to supply 600,000-700,000 tonnes of wheat a year, according to a statement issued after the document was signed.