Morocco Food and Drink Report Q4
2012

Morocco Food and Drink Report Q4 2012

Agriculture accounts for around 40% of Morocco's total workforce, leaving the broader economy highly dependent on grain yields. Private consumption has been further boosted by a sharp increase in government subsidies of food and fuel. We expect public spending on subsidies to come to MAD54.9bn

(US$7.0bn) by the end of 2012, up from MAD27.2bn in 2010. Public sector wages rose by 11.0% in May, which should further increase household consumption. Our generally positive outlook is backed up by government surveys that show consumer confidence is around its highest level since early 2008. Headline Industry Data

• Per capita food consumption in local currency terms is forecast to increase by 1.6% in 2012. Through to 2016, compound annual growth of 1.8% is forecast.
• Mass grocery retail sales in local currency terms are forecast to increase by 8.9% in 2012. To 2016, compound annual growth of 10.4% is forecast. Key Regional Company Trends Casino and Al-Meera Investing In Retail: In February 2012, French retailer Casino signed a joint venture

(JV) agreement with Qatari retail group al-Meera Holding with plans to open outlets in North Africa and Jordan. The JV, called ALGE Retail, is looking at expansion in Tunisia, Libya and Egypt. It will be headquartered in Geneva, with Casino owning 49% and al-Meera owning 51%. Dabur India To Establish New Manufacturing Plants: In February 2012, fast-moving consumer goods major Dabur India announced it will invest INR1bn (US$20.1mn) establishing new manufacturing plants in Africa over the next two years to expand its global footprint. According to a company official, the funds will be used primarily to construct plants in places such as Morocco and Southern and Eastern Africa. The official said the new plants will support its existing factories in Nigeria and Egypt. Key Risks to Outlook Government Expenditure Levels Under Scrutiny: We are pessimistic about the government's ability to maintain its current level of spending because of the weakness of its fiscal position. Although we continue to expect the short-term political situation to remain relatively stable, the worsening outlook for inflation

• and its budgetary consequences - will restrict the government's ability to respond to any deterioration in domestic stability if it occurs.

• BMI Industry View
• SWOT Analysis
• North Africa Food Industry SWOT
• North Africa Drink Industry SWOT
• North Africa Mass Grocery Retail Industry SWOT
• Business Environment
• BMI's Core Global Industry Views
  • Table: Core Views
• Middle East Food & Drink Risk/Reward Ratings
  • Table: MENA Risk/Reward Ratings Sub-Categories, Q412 (scores out of 10)
  • Table: MENA Food & Drink Risk/Reward Ratings, Q412
• Macroeconomic Outlook
  • Table: Morocco - Economic Activity
• Industry Forecast
• Food
  • Table: Morocco - Food Consumption Indicators
  • Table: Morocco - Fish
  • Table: Morocco - Virgin Olive Oil
  • Table: Morocco - Crude Soyabean Oil
  • Table: Morocco - Corn Oil
• Dairy
  • Table: Morocco - Dairy
• Drink
• Alcoholic Drinks
  • Table: Morocco - Wine Volume Sales
• Soft Drinks
  • Table: Morocco - Soft Drinks Value/Volume Sales
• Hot Drinks
• Mass Grocery Retail
  • Table: Morocco - Mass Grocery Retail Sales By Format
• Food
• Key Regional Industry Trends And Developments
• Danone Buys Morocco's Central Laitiere For EUR550mn
• Weak Spanish Market Pushes Food Producers To Look At North Africa
• Dabur India To Establish New Manufacturing Plants
• Regional Governments Aim To Reduce Dependence On Imports
• Increased Focus On Exports
• Regional Market Overview
• Food Consumption
• Food Production
• Confectionery
• Agriculture
• Drink
• Key Regional Industry Trends And Developments
• Surprisingly Strong Alcohol Industry
• Morocco Food & Drink Report Q4
• © Business Monitor International Ltd Page
• Local Companies Attract Foreign Interest
• Tourism Continues To Shape Development Of Drinks Industries
• Regional Market Overview
• Alcoholic Drinks
• Soft Drinks
• Hot Drinks
• Mass Grocery Retail
• Key Regional Industry Trends And Developments
• Foreign Players Increasingly Interested In North Africa
• Though Not All Plain Sailing
• Regional Market Overview
• Competitive Landscape
  • Table: Key Players In North Africa's Food & Drink Sector
  • Table: Key Players In North Africa's MGR Sector
• Company Profiles
• Central Laitiere (Morocco)
• Aiguebelle Compagnie Cherifienne de Chocolaterie (Morocco)
• Maghreb Industries SA (Morocco)
• Demographic Outlook
  • Table: Morocco's Population By Age Group, 1990-2020 ('000)
  • Table: Morocco's Population By Age Group, 1990-2020 (% of total)
  • Table: Morocco's Key Population Ratios, 1990-2020
  • Table: Morocco's Rural And Urban Population, 1990-2020
• Risk/Reward Ratings Methodology
  • Table: Rewards
  • Table: Risks
• Weighting
  • Table: Weighting
• BMI Food & Drink Industry Glossary
• Food & Drink
• Mass Grocery Retail
• BMI Food & Drink Forecasting & Sourcing
• How We Generate Our Industry Forecasts
• Sourcing