Cash-tight Morocco bides time on massive wheat buys

The Moroccan government, facing its biggest wheat import requirement in three decades even as hard currency reserves dwindle, said it would not tap international soft wheat markets before the bulk of its domestic harvest is sold.

The announcement, from the agriculture ministry, comes a few days after the north African country's state-run grains agency ONICL received no bids in two tenders this week for 600,000 tonnes of European Union and U.S.-origin soft wheat.