Weakening Euro affects Moroccan agriculture exports
The Moroccan Agricultural Exporters Association has recently announced that over the past four years it had incurred $1.3 billion losses on the European Union’s markets, reported Al-Hayat daily. These losses were attributed to two major causes: declining Euro exchange rates and rising energy prices.
The association, which delayed its protest strike originally scheduled for September 18th, claimed that the value of the country’s exports to France decreased by 17 percent and to Germany by 19 percent as a result of the Euro depreciation. Furthermore, this association of fruits, vegetables and citrus exporters, added that its export value fell by 20 percent. –(Albawaba-MEBG)