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Morocco has launched a unique vegetable oil production plant in Laâyoune, the southern region of the country. El Moussaoui, the project’s investor, officially opened the facility in conjunction with activities commemorating the 70th anniversary of the Revolution of the King and the People.
According to Moussaoui in an interview, 60% of the plant’s output would be exported, primarily to African nations like Chad. As well as Mauritania, Mali, and Niger. According to data gathered on the Trade Map portal, the project is expected to halt spending $900 million on importing vegetable oils.
Moussaoui said, “The opening of this facility, the first of its kind in Morocco, fills us with joy and pride. We took care to bring it up to international health standards in order. To ensure a high-quality product for both the domestic market and export.”
Total cost and capacity of the Vegetable oil production plant in Laâyoune
The plant, which was constructed on a 19,000 m2 plot of land, has a daily production capacity of 100 tons of vegetable oils at a total investment of US$52 million. And is expected to bring in 250 indirect jobs in addition to 120 direct positions.
Given Morocco’s structural weakness in the production of oilseeds, the country is a net importer of vegetable oils. Morocco now only produces enough vegetable oil seeds locally to meet roughly 2% of the demand for the country’s consumption, according to Market Research.com.
Morocco thus bears the full brunt of price variations on the global markets. Because it imports 98% of the raw ingredients required to make edible oils. And is among the top 10 importers globally. This has had a significant impact on consumer purchasing power.
The council claims that locally grown oilseeds only contribute 1.3% to the sector. And they go on to say that when the cost of shipping and carrying commodities internationally rises, so do the severity of price hikes for raw materials. |
