The Brazilian Ministry of Agriculture and Livestock has announced receiving official clearance from Rabat to export Brazilian olive oil to the Moroccan market, as reported by Hespress. This new license follows a previous authorization in September allowing the export of dried distillers grains (DDG and DDGS) from Brazil to Morocco. With this latest agreement, Brazil expands its agricultural trade with Morocco, solidifying a growing economic partnership between the two nations.
Morocco has emerged as a significant destination for Brazilian agricultural exports, ranking as the third-largest market in Africa last year with trade valued at approximately $1.23 billion. Between January and September of this year, Brazilian agricultural exports to Morocco exceeded $900 million, underscoring the strong trade relationship. According to Brazil’s Ministry of Agriculture and Livestock, this new avenue for Brazilian olive oil in Morocco’s market is the result of collaborative efforts between Brazil’s agriculture and foreign affairs ministries.
Agricultural expert Riad Ouhteita views Morocco’s decision to welcome Brazilian olive oil as more diplomatic than purely economic, highlighting Morocco’s recent openness to a variety of Brazilian products, including meats, livestock, and legumes. Ouhteita notes that while importing Brazilian olive oil may be costlier than sourcing from closer countries like Spain, Brazil’s oil is known for its high quality due to its cultivation of Spanish olive varieties. Although logistics add to the costs, Ouhteita suggests that Morocco’s trade with Brazil aligns with its broader goal to diversify and strengthen ties with Latin American nations. He believes that these imports may also stabilize olive oil prices, which have recently surged domestically, due in part to reduced supply.
08/11/2024
