Morocco will cut back exports of its mainly Europe-bound tomatoes, seeking to curb a pre-Ramadan surge in local prices. The move adds to a raft of crop protectionism worldwide. The war in Ukraine is accelerating food inflation that was already heading up, spurring governments to ensure domestic supplies by restricting trade abroad.
Morocco’s sends about 430,000 tons of tomatoes to the European Union each year, making it the bloc’s largest outside supplier. Drought in the North African country has caused the price of one of Morocco’s cheapest fresh staple foods to surge over the past few weeks. Inflation has stoked rare protests.
Export curbs would halve the local price for tomatoes to less than 5 dirhams ($0.51) per kilo.
Source: bnnbloomberg.ca
