Argan oil: Morocco’s ‘desert gold’

The demand for argan oil is expected to peak in the next few years and the Kingdom of Morocco’s argon producers are gearing up to supply the world’s appetite for this precious oil.  According to a new report, argan oil will see its most commercial years between 2017 and 2024.

Production of argan oil in Morocco will increase by 19.6 percent in the next eight years due to its incorporation in pharmaceuticals, cosmetic products and other personal care items. Around 40% of existing demand for argan oil comes from make-up companies, causing demand to skyrocket in recent years.

Fellow Arab states are more interested in using the cooking version of the substance. According to the report, Gulf and European countries will remain the biggest consumers of the traditionally Moroccan product over the next eight years.

Morocco exports 700 tons of argan oil every year – mostly to other North African and Arab nations. In the next ten years, the export figure is set to triple and by 2020, they aim to produce 10,000 tons a year.