Russia wants Morocco to cut wheat tariff

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Russia’s agriculture minister has told his Moroccan counterpart that he expects the country to cut its import tax to 30 percent by the end of 2018 as Russia looks to develop new export markets.

Morocco hiked its wheat import tax to 135 percent on May 11, and its rate for preferential trading partners — including the EU and the U.S. — from 9.9 percent to 83.7 percent, the report said.

That came as its domestic wheat production is set to top 8.2 million metric tons this year, nearly 1 million more than last year as ideal weather conditions have boosted crop size.

“The Russian side expects a reduction in duties from 135 percent to 30 percent by the end of the year, which will further increase the interest of domestic companies to work in the Moroccan market,” the Russian ministry said in an update.

The Fence Post