Yesterday, the Moroccan government adopted a decree cancelling the value-added tax on agricultural inputs, searching to help lower prices of fresh produce and other agrifoods. In the African country, food inflation jumped to 20.1% in February, bringing general inflation to 10.1%, a level unmatched since the 1980s.
The measure is in line with efforts to "stem the sources of inflation and higher prices both for farm produce and for agrifood products," Prime Minister Aziz Akhannouch said in a statement after the cabinet’s weekly meeting.
Morocco has restricted tomato exports to Africa and Europe to ensure supply of the domestic market.
Source: reuters.com