Export Suspension Announcement
The Moroccan government has announced a suspension of frozen sardine exports effective February 1, 2026. This decision comes amid growing concerns over the depletion of fish resources and increasing market pressures.
Market Conditions and Structural Factors
Several structural factors are influencing the sardine market, including adverse climatic conditions, rising costs associated with fishing trips, challenges in maintaining the cold chain, and the profit margins of intermediaries. These elements underscore the urgent need to conserve fish stocks.
Decline in Sardine Landings
According to data from the National Fisheries Office (ONP), reported by local media, sardine landings have plummeted by approximately 46% over the past two years, dropping from around 965,000 tons in 2022 to nearly 525,000 tons in 2024.
Objectives of the Suspension
The suspension specifically targets frozen sardines, aiming to redirect a portion of the supply to the domestic market. This strategy is intended to enhance availability and stabilize prices for consumers.
Economic Implications
This measure presents a complex trade-off between household purchasing power and export activities. While the anticipated outcome is an easing of supply in the local market, industry professionals warn of potential export revenue losses and social risks.
Concerns have been raised about the potential threat to approximately 35,000 jobs and a decline in the operational capacity of processing plants.
Support Measures and Structural Reforms
To mitigate the impact on the local market, the government has announced accompanying measures, particularly during the month of Ramadan, to ensure a steady supply of frozen fish.
Additionally, the government is emphasizing structural reforms aimed at enhancing market digitalization, improving traceability, monitoring fishing vessels, and combating illegal fishing practices.
Uncertainties Ahead
Despite these measures, several uncertainties remain for operators, including the exact duration of the export suspension, its specific scope, the actual effects on domestic prices, and the response of export markets.