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Morocco's Cereals Harvest Expected to Double after Wet Winter

The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat (File Photo/AFP)
The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat (File Photo/AFP)
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Morocco's Cereals Harvest Expected to Double after Wet Winter

The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat (File Photo/AFP)
The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat (File Photo/AFP)

Moroccan grains traders and millers expect Morocco to double its cereals harvest this season after abundant winter rains, with limited impact from floods in the northwestern plains of the North African country, which is a major grains importer.

Industry leaders plan to add domestic wheat to strategic reserves this year "without compromising imports", said Moulay Abdelkader Alaoui, head of the federation of industrial millers FNM, who expects a domestic harvest of 6 million metric tons.

"We expect a good cereals harvest this year of 8 to 9 million tons, including around 5 million tons of soft wheat," Omar Yacoubi, head of Morocco's wheat trading federation FNCL, told Reuters. The previous harvest was 4.4 million tons, including 2.4 million tons of soft wheat.

Morocco traditionally cancels its wheat import subsidy and reinstates customs duties to protect the local harvest.

But this year importers, millers and traders have asked the government to extend the subsidy window to June 1, instead of May 1, to compensate for costs incurred due to bad weather.

Rainfall this winter was 34% above the 30-year average and triple the previous year's levels, while dam filling rates improved to 70% from about 25%, agriculture ministry data shows, while the total grain-planted area rose to 3.7 million hectares, from 2.6 million the year before.

Flooding in the fertile northwestern plains, which destroyed 110,000 hectares, had a "localized" impact, Yacoubi said, with wheat losses to be offset by higher yields in larger plains.

DELAYED SHIPPING

Large swells and storms since mid-December have disrupted port operations at Casablanca and Jorf Lasfar, which handle 80% of Morocco's wheat imports.

Shipping delays have weighed heavily on importers, even as international wheat prices remain below the subsidy eligibility threshold, Yacoubi said, adding that as of this week, 70 ships carrying 1 million tons of wheat were queued outside ports, leading to low stock levels.

Moroccan importers are paying about $20,000 per day for ships waiting offshore, pushing them to request an extension of the government subsidy programme.

Traditionally, only half of Morocco's harvest reaches industrial mills because small farmers retain wheat for their own use, but Alaoui said this year's plentiful rainfall should improve crop quality and encourage more collection.

French exporters expect to supply about two-thirds of Morocco's soft wheat import needs, or 3.5 million tons.

From June 2025 to January 2026, Morocco imported 7 million tons of grains, up 12% year-on-year, including 3.2 million tons of soft wheat.

During the same period, France topped Morocco's soft wheat suppliers with 2.26 million tons, followed by Argentina with 233,144 tons, Russia with 227,070 tons, Germany with 120,084 tons and the U.S. with 94,688 tons.

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PIF: The Cornerstone of a Sustainable Economy Under Saudi Vision 2030

The Public Investment Fund Tower in King Abdullah Financial District in the Saudi capital, Riyadh (KAFD)
The Public Investment Fund Tower in King Abdullah Financial District in the Saudi capital, Riyadh (KAFD)
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PIF: The Cornerstone of a Sustainable Economy Under Saudi Vision 2030

The Public Investment Fund Tower in King Abdullah Financial District in the Saudi capital, Riyadh (KAFD)
The Public Investment Fund Tower in King Abdullah Financial District in the Saudi capital, Riyadh (KAFD)

With confident strides and a proactive vision, the Public Investment Fund (PIF) is leading the major economic diversification journey, creating opportunities and redrawing the national investment map.

Through its ambitious strategy, which entered its third phase in 2026, the Fund has succeeded in establishing an integrated ecosystem of major companies and projects that form the cornerstone of building a sustainable economy.

The current work not only aims for financial growth but also seeks to empower the private sector and open unprecedented horizons for advanced industries and sophisticated infrastructure.

Roots and Historical Transformation

Since its establishment in 1971, the Fund has solidified its position as one of the most prominent strategic engines in Saudi Arabia's economic transformation, by supporting national development, financing major projects, and establishing national companies that contributed to building an economic base extending for decades.

With the launch of Vision 2030, the Fund's role shifted from a traditional financing entity to an investment arm driving economic diversification, boosting the growth of non-oil sectors, and reshaping the investment landscape through distinctive local and international partnerships.
This transformation has made it one of the Kingdom's most crucial tools for attracting opportunities and consolidating its economic presence on a global scale.

Phases of Strategic Transformation

PIF's work within Vision 2030 unfolded through three consecutive phases characterized by integration and evolution.

The first phase extended until 2020, focusing on institutional restructuring, integrating the Fund into Vision realization programs, and launching an ambitious strategy aimed at developing ten strategic sectors, alongside updating regulatory frameworks to enhance investment efficiency.

The second phase, spanning from 2021 to 2025, saw a significant expansion in the Fund's scope of work, targeting investments in 13 strategic sectors and accelerating the implementation of mega-projects.

During this phase, distinctive projects such as Diriyah, The Red Sea Project, and Qiddiya emerged, contributing to strengthening the Kingdom's position as a global destination for tourism and investment.

Upon entering the third phase in 2026, the Fund refocused its strategy to encompass six key sectors: tourism, travel and entertainment; urban development and regeneration; advanced industries and innovation; industry and logistics services; clean and renewable energy and water infrastructure; and NEOM.

This includes strengthening the private sector's role in operating mega-projects and capitalizing on growing investment opportunities, reflecting a transition towards a more mature and sustainable economic model.

Tangible Economic Outcomes

These phases have yielded significant economic results, with the Fund's assets under management substantially doubling to 3.41 trillion Saudi Riyals ($909.3 billion) in 2025. Non-oil GDP rose to historic levels, with the Fund's contribution reaching approximately 10 percent. It also contributed to creating over one million direct and indirect job opportunities since 2018, in addition to enabling the private sector to participate in diverse strategic projects.

Future Investment Initiative

The Public Investment Fund has enhanced its international presence by building strategic partnerships and attracting global capital. The Future Investment Initiative (FII), launched by the Fund, has also become an annual international platform bringing together economic leaders, investors, and experts to discuss the future of investment and global challenges, making it one of the most prominent economic events worldwide.

This presence has contributed to cementing the Kingdom's position as an influential hub in the global economy, in addition to enhancing the Fund's brand value, which has become among the fastest-growing sovereign wealth funds globally, thanks to its investment performance and adoption of governance and sustainability standards.

Empowering the Private Sector

The Fund has placed significant emphasis on empowering the private sector, working to create extensive investment opportunities for local companies, including small and medium-sized enterprises (SMEs), by increasing local content and expanding economic partnerships. This has contributed to raising the private sector's contribution to the economy to approximately 51 percent.

PIF has also launched supporting initiatives such as the Private Sector Forum, the Private Sector Hub, and training and qualification programs like the Musahemah program, the Industrial Business Accelerator, and the Azm program, all of which have helped build a more competitive and sustainable business environment.

Sustainability and Green Economy

The Fund has moved to bolster sustainability as part of its investment strategy, becoming one of the first sovereign wealth funds to issue green bonds. This path began in 2022 with the issuance of the first green bond, followed by a second in 2023, and a new one in 2025.

The proceeds from these issuances totaled approximately $9 billion, directed towards 91 environmental projects in renewable energy, energy efficiency, green buildings, and water management. This contributes to reducing emissions by about 10.1 million tons of carbon dioxide, supporting the net-zero target.

Investment Environment

The investment environment in the Kingdom has undergone a radical transformation with Vision 2030, through regulatory and legislative reforms including the new Investment Law, the Bankruptcy Law, the TAYSEER program, and the establishment of the National Competitiveness Center and the Small and Medium Enterprises General Authority.

This has contributed to enhancing the Kingdom's investment attractiveness, with the value of non-oil investments rising to approximately 797 billion Saudi Riyals ($212.5 billion), and the contribution of investment to the economy increasing from 22 percent to 30 percent.

Furthermore, the private sector's contribution to total investments has grown to 76 percent, making it the largest driver of economic growth.

PIF continues to play its role as a key driver in reshaping the Saudi economy, leading the transformation towards diversification and sustainability, and enhancing the Kingdom's position as a global investment destination capable of competing and influencing the global economy.

Business

China Condemns EU’s Inclusion of Chinese Entities in Sanctions Package Against Russia

People gather at the Beijing International Automotive Exhibition (Auto China), in Beijing, China April 24, 2026. (Reuters)
People gather at the Beijing International Automotive Exhibition (Auto China), in Beijing, China April 24, 2026. (Reuters)
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China Condemns EU’s Inclusion of Chinese Entities in Sanctions Package Against Russia

People gather at the Beijing International Automotive Exhibition (Auto China), in Beijing, China April 24, 2026. (Reuters)
People gather at the Beijing International Automotive Exhibition (Auto China), in Beijing, China April 24, 2026. (Reuters)

China's commerce ministry on Saturday expressed "firm opposition" to the European Union's inclusion of Chinese entities in its 20th round of sanctions against Russia, demanding their immediate removal from ‌the list.

The ‌EU sanctions ‌package ⁠targets third-country suppliers ⁠of critical high-tech items, including China-based entities accused of providing dual-use goods or weapons systems to Russia's military-industrial ⁠complex.

The move "runs counter ‌to ‌the spirit of the ‌consensus reached between Chinese ‌and EU leaders, and seriously undermines mutual trust and the overall stability of ‌bilateral relations", a spokesperson for China's commerce ⁠ministry ⁠said in a statement.

The ministry warned it would take "necessary measures" to protect Chinese companies and said "all consequences will be borne by the EU side," the statement added.

Business

US State Dept Orders Global Warning About Alleged AI Thefts by DeepSeek, Other Chinese Firms

The logo of DeepSeek is seen during the Global Developer Conference, organized by the Shanghai AI Industry Association in Shanghai on February 21, 2025. (AFP)
The logo of DeepSeek is seen during the Global Developer Conference, organized by the Shanghai AI Industry Association in Shanghai on February 21, 2025. (AFP)
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US State Dept Orders Global Warning About Alleged AI Thefts by DeepSeek, Other Chinese Firms

The logo of DeepSeek is seen during the Global Developer Conference, organized by the Shanghai AI Industry Association in Shanghai on February 21, 2025. (AFP)
The logo of DeepSeek is seen during the Global Developer Conference, organized by the Shanghai AI Industry Association in Shanghai on February 21, 2025. (AFP)

The US State Department has ordered a global push to bring attention to what it says are widespread efforts by Chinese companies, including AI startup DeepSeek, to steal intellectual property from US artificial intelligence labs, according to a diplomatic cable seen by Reuters.

The cable, dated Friday and sent to diplomatic and consular posts around the world, instructs diplomatic staff to speak to their foreign counterparts about "concerns over adversaries' extraction and distillation of US A.I. models."

"A separate demarche request and message has been sent to Beijing for raising with China," the document states.

Distillation is the process of training smaller AI models using output from larger, more ‌expensive ones as ‌part of an effort to lower the costs of training a ‌powerful ⁠new AI tool.

This ⁠week, the White House made similar accusations, but the cable has not been previously reported. The State Department did not immediately respond to a request for comment.

OpenAI has warned US lawmakers that DeepSeek was targeting the ChatGPT maker and the nation's leading AI companies to replicate models and use them for its own training, Reuters reported in February.

CHINA REJECTS ACCUSATIONS

The Chinese Embassy in Washington on Friday reiterated its stance that the accusations are baseless.

"The allegations that Chinese entities are stealing American AI intellectual property are ⁠groundless and are deliberate attacks on China's development and progress in the ‌AI industry," it said in a statement to Reuters.

DeepSeek, whose ‌low-cost AI model stunned the world last year, on Friday launched a preview of a highly anticipated ‌new model, called the V4, adapted for Huawei chip technology, underlining China's growing autonomy in the ‌sector.

DeepSeek also did not immediately respond to a request for comment. In the past, it has said that its V3 model used data naturally occurring and collected through web crawling and it had not intentionally used synthetic data generated by OpenAI.

Many Western and some Asian governments have banned their institutions and officials from using ‌DeepSeek, citing data privacy concerns. Nevertheless, DeepSeek's models have consistently been among the most used on international platforms that host open-source models.

The State Department ⁠cable said its purpose ⁠was to "warn of the risks of utilizing AI models distilled from US proprietary AI models, and lay the groundwork for potential follow-up and outreach by the US government."

It also mentioned Chinese AI firms Moonshot AI and MiniMax . Neither company immediately responded to a request for comment.

The cable said that "AI models developed from surreptitious, unauthorized distillation campaigns enable foreign actors to release products that appear to perform comparably on select benchmarks at a fraction of the cost but do not replicate the full performance of the original system."

It added that the campaigns also "deliberately strip security protocols from the resulting models and undo mechanisms that ensure those AI models are ideologically neutral and truth-seeking."

The White House accusations and the cable come just weeks before US President Donald Trump is set to visit Chinese President Xi Jinping in Beijing. They could well raise tensions in a long-running tech war between the rival superpowers, which had been lowered by a detente brokered last October.