فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
In a positive development for Moroccan consumers, cooking oil prices have recently experienced a notable decrease, approaching levels recorded in 2022. According to local reports, current prices range between 16 and 17 dirhams per liter, marking a decrease of up to 8 dirhams, equivalent to a 30% reduction compared to their peak during the crisis.
Since the beginning of the COVID-19 pandemic, cooking oil prices had been steadily rising due to several factors, including drought affecting major raw material producing regions worldwide, as well as increased transportation costs. Before the sharp increase in 2021, cooking oil prices in Morocco ranged between 19.50 and 26.40 dirhams.
In a statement to Hespress newspaper, a trader reported: “Today, we are witnessing decreases of about eight dirhams per liter, with prices now ranging between 16 and 17 dirhams compared to 24 dirhams previously.” He added, “It is very likely that we will see further decreases in the coming weeks if conditions remain the same, as prices may return to their previous levels which were stable at 13 and 14 dirhams.”
It’s worth noting that cooking oil prices heavily depend on global markets and raw material costs. The local market’s vegetable oil needs, serving about 37 million people, are estimated at around 622,000 tons annually, of which only 1.3% comes from local production.
This price decrease represents a significant relief for Moroccan consumers who have suffered from a sharp rise in the price of this essential commodity over the past three years, with the price of half a liter reaching more than 12 dirhams, recording a 100% increase at that time.
As this downward trend continues, consumers and economic experts hope that prices will stabilize at reasonable levels, helping to alleviate the financial burden on Moroccan households.
