Forafric Global (AFRI) 20-F 30 Apr 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41416
Entity Registrant Name	FORAFRIC GLOBAL PLC
Entity Central Index Key	0001903870
Entity Incorporation, State or Country Code	J1
Entity Address, Address Line One	Unit 5.3, Madison Building
Entity Address, Address Line Two	Midtown
Entity Address, City or Town	Queensway
Entity Address, Country	GI
Entity Address, Postal Zip Code	GX11 1AA
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	26,879,202
ICFR Auditor Attestation Flag	false
Document fin stmt error correction flag	false
Auditor Firm ID	1195
Auditor Name	UHY LLP
Auditor Location	Melville, New York
Ordinary Shares Par Value 0.001 [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	Ordinary Shares, par value $0.001
Trading Symbol	AFRI
Security Exchange Name	NASDAQ
Warrants Each Warrant Exercisable For One Ordinary Share At Exercise Price Of 11. 50 Per Share [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	Warrants, each warrant exercisable for one Ordinary Share at an exercise price of $11.50 per share
Trading Symbol	AFRIW
Security Exchange Name	NASDAQ
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	Unit 5.3, Madison Building
Entity Address, Address Line Two	Midtown
Entity Address, City or Town	Queensway
Entity Address, Country	GI
Entity Address, Postal Zip Code	GX11 1AA
City Area Code	+011
Local Phone Number	350 20072505
Contact Personnel Name	Mustapha Jamaleddine

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 24,021	$ 24,827
Accounts receivable, net	34,716	30,858
Inventories	28,378	27,218
Prepaid expenses and other current assets	15,654	16,345
Total current assets	121,242	143,572
Property, plant, and equipment, net	116,920	100,527
Right-of-use assets	13,385	10,430
Goodwill	48,488	45,898
Intangible assets, net	4,648	3,723
Other assets, noncurrent	4,767	3,014
Total assets	309,450	307,164
Current liabilities:
Lines of credit – working capital	48,517	47,371
Lines of credit – wheat inventories	126,452	137,040
Accounts payable	46,461	27,295
Accrued expenses	18,115	18,974
Contract liabilities	1,272	540
Current portion of long-term debt	10,471	5,417
Contingent consideration liability	1,326	1,260
Other liabilities, current	645	284
Total current liabilities	253,259	238,181
Long-term debt	11,841	9,828
Deferred tax liabilities, net	10,982	12,399
Other liabilities	2,676
Total liabilities	280,244	262,209
Commitments and contingencies (Note 20)
Stockholders’ equity:
Preferred Shares; $0.001 par value; 1,000,000 authorized, — and — issued and outstanding, at December 31, 2023 and 2022, respectively
Additional paid-in capital	143,127	143,658
Accumulated deficit	(115,354)	(102,678)
Accumulated other comprehensive loss	(5,005)	(2,984)
Non-controlling interest	6,411	6,902
Total Stockholders’ equity	29,206	44,955
Total liabilities and Stockholders’ equity	309,450	307,164
Common Stock [Member]
Stockholders’ equity:
Ordinary shares, value	27	27
Class Z Ordinary Shares [Member]
Stockholders’ equity:
Ordinary shares, value		30
Related Party [Member]
Current assets:
Other receivables	1,358	2,366
Current liabilities:
Loan from related party	1,486	1,801
Nonrelated Party [Member]
Current assets:
Other receivables	$ 17,115	$ 41,958

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred shares, par value	$ 0.001	$ 0.001
Preferred shares, authorized	1,000,000	1,000,000
Preferred shares, issued
Preferred shares, outstanding
Ordinary shares, par value	$ 0.001
Ordinary shares, authorized	100,000,000
Ordinary shares, issued	26,879,202
Ordinary shares, outstanding	26,879,202
Common Stock [Member]
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, authorized	100,000,000	100,000,000
Ordinary shares, issued	26,879,202	26,879,102
Ordinary shares, outstanding	26,879,202	26,879,102
Class Z Ordinary Shares [Member]
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, authorized	30,000,000	30,000,000
Ordinary shares, issued		29,999,990
Ordinary shares, outstanding		29,999,990

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 305,476	$ 289,772	$ 261,679
Cost of sales	274,878	260,399	219,311
Gross profit	30,598	29,373	42,368
Operating expenses:
Selling, general and administrative expenses	29,465	30,795	38,982
Total operating expenses	29,465	30,795	38,982
Operating income (loss)	1,133	(1,422)	3,386
Other expense (income):
Interest income	(37)	(34)	(543)
Interest expense	14,016	12,513	10,362
Change in fair value of derivatives and contingent consideration	(25)	(4,733)
Foreign exchange (gain) loss	(207)	10,369	1,440
Other non-operating expenses		1,691
Total other expense	13,747	19,806	11,259
Loss before taxes	(12,614)	(21,228)	(7,873)
Income tax expense	(106)	(2,058)	(89)
Net loss	(12,508)	(19,170)	(7,784)
Net income (loss) attributable to noncontrolling interest	168	(42)	198
Net loss attributable to the Company	$ (12,676)	$ (19,128)	$ (7,982)
Loss per ordinary shares outstanding - basic	$ (0.47)	$ (0.72)	$ (0.38)
Loss per ordinary shares outstanding - diluted	$ (0.47)	$ (0.72)	$ (0.38)
Weighted average number of shares outstanding - basic	26,879,159	26,604,710	20,555,595
Weighted average number of shares outstanding - diluted	26,879,159	26,604,710	20,555,595
Other comprehensive loss net of tax:
Foreign currency translation adjustments	$ (1,747)	$ (7,242)	$ (2,995)
Total other comprehensive loss	(1,747)	(7,242)	(2,995)
Comprehensive loss	(14,255)	(26,412)	(10,779)
less: Comprehensive income (loss) attributable to non-controlling interest	442	(615)	(173)
Comprehensive loss attributable to the Company	$ (14,697)	$ (25,797)	$ (10,606)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member] Class Z Ordinary Shares [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2020		$ 120,000		$ (74,397)	$ 6,309	$ 82	$ 51,994
Balance, shares at Dec. 31, 2020		120,000,000
Retroactive adjustment to reflect recapitalization		$ (119,979)	119,979
Retroactive adjustment to reflect recapitalization, shares		(99,444,405)
Balance, December 31, 2020 - adjusted		$ 21	119,979	(74,397)	6,309	82	51,994
Balance, December 31, 2020 - adjusted, shares		20,555,595
Consolidation of variable interest entities						7,608	7,608
Net (loss) income				(7,982)		198	(7,784)
Transfer of stockholder loan from related party				(1,339)			(1,339)
Contribution of fixed assets from related party				168			168
Foreign exchange (loss) gain					(2,624)	(371)	(2,995)
Balance at Dec. 31, 2021		$ 21	119,979	(83,550)	3,685	7,517	47,652
Balance, shares at Dec. 31, 2021		20,555,595
Net (loss) income				(19,128)		(42)	(19,170)
Foreign exchange (loss) gain					(6,669)	(573)	(7,242)
Merger and recapitalization	$ 30	$ 7	44,926				44,963
Merger and recapitalization, shares	29,999,990	7,451,249
Transaction costs			(3,104)				(3,104)
Derivative liability for forward purchase agreement			(4,685)				(4,685)
Contingent consideration liability			(1,308)				(1,308)
Shares issued upon exercise of warrants			446				446
Shares issued upon exercise of warrants, shares		38,780
Share-based compensation			125				125
Share-based compensation, shares		13,200
Settlement of forward share purchase agreement derivative liability		$ (1)	(12,721)				(12,722)
Settlement of forward share purchase agreement derivative liability, shares		(1,179,722)
Balance at Dec. 31, 2022	$ 30	$ 27	143,658	(102,678)	(2,984)	6,902	44,955
Balance, shares at Dec. 31, 2022	29,999,990	26,879,102
Net (loss) income				(12,676)		168	(12,508)
Foreign exchange (loss) gain					(2,021)	274	(1,747)
Shares issued upon exercise of warrants			1				1
Shares issued upon exercise of warrants, shares		100
Share-based compensation			169				169
Shares repurchased and retired	$ (30)						(30)
Shares repurchased and retired, shares	(29,999,990)
Acquisition of non-controlling interest			(549)			(933)	(1,482)
Redeemable noncontrolling interest			(152)				(152)
Balance at Dec. 31, 2023		$ 27	$ 143,127	$ (115,354)	$ (5,005)	$ 6,411	$ 29,206
Balance, shares at Dec. 31, 2023		26,879,202

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (12,508)	$ (19,170)	$ (7,784)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property, plant and equipment	4,763	4,993	3,926
Amortization of intangible assets	260	143	111
Amortization of right-of-use assets	1,059	1,457	1,173
Bad debt expense	87	150	2,794
Change in fair value of derivatives and contingent consideration	(25)	(4,733)
Non-cash accretion of interest expense	129
Share-based compensation	169	125
Deferred income taxes	(2,093)	(4,286)	(2,585)
Changes in operating assets and liabilities:
Accounts receivable	(2,300)	(4,646)	(4,370)
Other receivables	26,658	(26,079)	(16,195)
Prepaid expenses and other current assets	4,158	(4,588)	10,522
Inventories	447	6,330	(9,825)
Other assets, noncurrent	(1,640)	(2,227)
Accounts payable	15,731	5,252	2,325
Lease liabilities	(581)	(776)	(1,531)
Other payables and liabilities	(988)	(9,514)	(4,609)
Net cash provided by (used in) operating activities	33,326	(57,569)	(26,048)
Cash flows from investing activities:
Acquisition of businesses and assets, net of cash acquired	(37)		(8,639)
Purchase of equity method investment			(385)
Advances to related parties			(511)
Purchases of property, plant, and equipment	(9,528)	(4,533)	(4,833)
Sales of property, plant, and equipment	47	765	488
Additions to intangible assets	(319)	(262)	(634)
Net cash used in investing activities	(9,837)	(4,030)	(14,514)
Cash flows from financing activities:
Cash acquired in merger and recapitalization		13,966
Proceeds from forward share purchase agreement		6,719
Proceeds from convertible bonds issued		11,000	500
Proceeds from exercise of warrants	1	446
Transaction costs		(3,104)
Stockholder loans		(100)	5,415
(Repayments) borrowings on working capital facilities, net	(1,590)	(24,389)	16,852
Borrowings on lines of credit – Wheat inventories	59,604	117,225	67,103
Repayments on lines of credit – Wheat inventories	(77,781)	(39,420)	(47,869)
Borrowings on loans	3,733	2,792	12,217
Repayments on loans	(5,149)	(10,144)	(11,464)
Net cash (used in) provided by financing activities	(21,182)	74,991	42,754
Effect of exchange rate changes on cash and cash equivalents	(3,113)	(2,958)	(482)
Net (decrease) increase in cash and cash equivalent	(806)	10,434	1,710
Cash and cash equivalents, beginning of year	24,827	14,393	12,683
Cash and cash equivalents, end of year	24,021	24,827	14,393
Non-cash activities:
Non-cash acquisition of non-controlling interest	1,482
Shares repurchased and retired	30
Forward share purchase agreements		4,685
Contingent consideration liability		1,308
Conversion of convertible bonds into ordinary shares		11,797
Consideration and accrued interest paid to selling stockholder in ordinary shares		12,398
Transfer of related party debt			1,339
Fixed assets contributed from related party			168
Consolidation of variable interest entities related to business acquisitions			7,608
Supplemental cash flow disclosures:
Interest paid	15,750	11,343	9,202
Net income taxes paid	$ 1,987	$ 2,228	$ 2,495

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION Nature of Operations These consolidated financial statements are the consolidated financial statements of the Company and its subsidiaries, each of which is controlled, and is based on the financial position and results of operations of the Company as a standalone company. Intercompany balances and transactions between consolidated entities have been eliminated. Refer to Note 22 — Related Parties for further information regarding the Company’s related party transactions. On June 9, 2022 (the “Closing Date”), Forafric Agro Holdings Limited (“FAHL”), consummated the previously announced business combination and related transactions pursuant to a securities purchase agreement, dated December 19, 2021 (“Business Combination Agreement”) which provides for the Business Combination (as defined below) between FAHL and Globis Acquisition Corp., a Delaware corporation (“Globis”). Description of the Business Combination 0.001 100 Accounting Treatment FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Except for certain derivative liabilities. the assets and liabilities of Globis were recognized at historical cost and were not material, with no goodwill or other intangible assets recorded. The derivative liabilities, which are related to forward share purchase agreements and contingent consideration, were recorded at fair value. The consolidated assets, liabilities, and results of operations of FAHL became the historical financial statements, and operations prior to the closing of the Business Combination presented for comparative purposes are those of FAHL. Pre-Combination shares of common stock were converted to shares of common stock of the combined company using the conversion ratio of 0.1713 Basis of Presentation

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates Principles of Consolidation Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive the benefits from its activities that could potentially be significant to the entity. In assessing control, potential voting rights that are currently exercisable or convertible are considered. The accounts of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Cash Equivalents Accounts Receivable and Allowances for Credit Losses Inventories Other Receivables 99,453 38,364 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Property, Plant, and Equipment SCHEDULE OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT Assets Useful Lives Buildings 39 Machinery and equipment (technical installations) 30 50 Other assets 5 30 Building improvements are depreciated over the shorter of the estimated useful life of the assets or the remaining useful life. Leasehold improvements are amortized over the shorter of their useful life or remaining lease term. Expenditures for repairs and maintenance, which do not improve or extend the life of the assets, are expensed as incurred. We perform impairment tests when circumstances indicate that the carrying value of an asset may not be recoverable. Indicators of impairment include deteriorations in operating cash flows, the anticipated sale or disposal of an asset group, and other significant changes in business conditions. Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company’s assessment of recoverability of property, plant and equipment is performed on a reporting unit level. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of such asset to its estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of such asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell. Goodwill and Other Intangible Assets SCHEDULE OF ESTIMATED USEFUL LIFE OF GOODWILL AND OTHER INTANGIBLE ASSETS Assets Useful Lives Trademarks Indefinite Customer relationships 20 Patents and licenses 5 10 Computer software 5 10 Other intangible assets 3 10 Recognized intangible assets, exclusive of goodwill, are amortized over the useful lives of the assets unless that life is determined to be indefinite. All of our intangible assets, exclusive of goodwill and trademarks, are finite lived. All amortization expense related to intangible assets is recorded in Selling, general, and administrative expense in the consolidated statements of operations. Intangible assets with finite lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows. Goodwill and other indefinite-lived intangible assets are evaluated for impairment annually, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Our annual impairment evaluation is conducted during our fiscal fourth quarter. In accordance with the accounting standards, an entity has the option first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that goodwill or an indefinite-lived intangible asset is impaired. If after such assessment an entity concludes that the asset is not impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the asset using a quantitative impairment test, and if impaired, the associated assets must be written down to fair value. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The quantitative impairment test for goodwill compares the fair value of a reporting unit with the carrying value of its net assets, including goodwill. If the fair value of the reporting unit is less than the carrying value of the reporting unit, an impairment charge would be recorded to the Company’s operations, for the amount in which the carrying amount exceeds the reporting unit’s fair value. We determine fair values for each reporting unit using the market approach, when available and appropriate, the income approach, or a combination of both. The income approach involves forecasting projected financial information (such as revenue growth rates, profit margins, tax rates, and capital expenditures) and selecting a discount rate that reflects the risk inherent in estimated future cash flows. Under the market approach, the fair value is based on observed market data. If multiple valuation methodologies are used, the results are weighted appropriately. Segment Reporting Advertising 258 19 536 Leases Share-Based Compensation The Company uses the Black-Scholes option pricing model to determine the grant date fair value of its stock options and phantom options, respectively, as well as the fair value at each reporting period for liability classified awards. This model requires the Company to estimate the expected volatility and the expected term of the stock options, which are highly complex and subjective variables. The Company uses an expected volatility of its stock price during the expected life of the options that is based on the historical performance of the Company’s stock price as well as including an estimate using similar companies. The expected term is computed using the simplified method as the Company’s best estimate given its lack of actual exercise history. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected exercise term of the stock option. The inputs to the valuation of phantom options are observable in the market, and as such are classified as Level 2 in the fair value hierarchy. The Company accounts for forfeitures of share-based awards as the occur. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Business Combinations and Asset Acquisitions The Company evaluates acquisitions of assets and other similar transactions to assess whether the transaction should be accounted for as a business combination or asset acquisition by first applying a screen test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If so, the transaction is accounted for as an asset acquisition. If not, further determination is required as to whether the Company has acquired inputs and processes that can create outputs that would meet the definition of a business. When applying the screen test, significant judgment is required to determine whether an acquisition is a business combination or an acquisition of assets. Accounting for asset acquisitions falls under the guidance of Topic 805, Business Combinations, specifically Subtopic 805-50. A cost accumulation model is used to determine an asset acquisition’s cost. Assets acquired are based on their cost, generally allocated to them on a relative fair value basis. Direct acquisition-related costs are included in the cost of the acquired assets. Foreign Currency Translation and Transactions Credit Risk Revenue Recognition Revenue from Contracts with Customers Revenue related to the sale of goods is measured based on consideration specified in a contract with a customer. The Company recognizes revenue from these contracts at a point in time when it satisfies a performance obligation by transferring control of a product to a customer, generally when legal title and risks and rewards transfer to the customer. Sales terms typically provide for transfer of title at the time and point of delivery and acceptance of the product being sold. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Amounts received from customers prior to revenue recognition on a contract are recorded as contract liabilities on the consolidated balance sheets. Amounts paid to suppliers prior to purchase recognition are recorded within prepaid expenses and other current assets on the consolidated balance sheets. Shipping and Handling Costs Taxes Collected from Customers and Remitted to Governmental Authorities Transaction Costs Income Taxes Accounting for Warrants Foreign Currency Forward Contracts Fair Value Measurements FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used to value the assets and liabilities: - Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. - Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. - Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The Company’s financial instruments include cash equivalents, accounts receivable from customers, other receivables, prepaid expenses and other current assets, accounts payable and accrued liabilities, all of which are typically short-term in nature. The Company believes that the carrying amounts of these financial instruments reasonably approximate their fair values due to their short-term nature. The Company measures the derivative liability and asset related to foreign currency forward contracts at fair value on a recurring basis. Refer to Note 13 – Foreign currency forward contracts. The Company measures the contingent consideration liability at fair value on a recurring basis on each reporting date. Refer to Note 14 — Contingent Consideration Liability for further information. Non-Controlling Interests Emerging Growth Company Status Reclassifications Liquidity and going concern

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	3. RECENT ACCOUNTING PRONOUNCEMENTS Other than as described below, no new accounting pronouncement issued or effective during the fiscal year has had or is expected to have a material impact on the consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. All public entities will be required to report segment information in accordance with the new guidance starting in annual periods beginning after December 15, 2023. The Company is determining the impact of the ASU 2023-07 on its consolidated financial statements. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which enhances the transparency and decision usefulness of income tax disclosures by requiring; (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, the standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is determining the impact of the ASU 2023-09 on its consolidated financial statements.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases
LEASES	4. LEASES The Company has operating leases for real estate and vehicles. The Company has finance leases for equipment and construction land space. Leases are classified as finance leases because ownership of the underlying assets transfers at the end the lease term. Remaining lease terms for these leases range from less than one year to six years. The Company does not record leases with a term of 12 months or less on the balance sheet. Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET CLASSIFICATION Balance Sheet December 31, Classification 2023 2022 (in thousands) Assets Operating leases Right-of-use assets $ 3,377 $ 1,816 Finance leases Right-of-use assets 10,008 8,614 Total assets $ 13,385 $ 10,430 Liabilities Current liabilities Operating leases Current portion of long-term debt $ 625 $ 621 Finance leases Current portion of long-term debt 1,009 1,380 Total current liabilities 1,634 2,001 Noncurrent liabilities Operating leases Long-term debt 2,191 665 Finance leases Long-term debt 642 235 Total noncurrent liabilities 2,833 900 Total liabilities $ 4,467 $ 2,901 Right-of-use assets and their corresponding lease liabilities are measured and recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Discount Rates For the majority of its leases, the Company uses the rate implicit in the lease. For leases without an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments for those leases. The weighted-average discount rates for the Company’s leases were as follows: SCHEDULE OF WEIGHTED AVERAGE DISCOUNT RATES OF LEASES December 31, 2023 2022 Operating leases 5.0 % 5.0 % Finance leases 7.0 % 6.1 % FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Lease Payments The Company includes lease payments under options to extend or terminate the lease in the measurement of the right-of-use asset and lease liability when it is reasonably certain that it will exercise such options. Fixed lease costs represent the explicitly quantified lease payments prescribed by the lease agreement and are included in the measurement of the right-of-use asset and corresponding lease liability. The weighted-average remaining lease term of the Company’s leases were as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM December 31, 2023 2022 Operating leases 6.5 6.4 Finance leases 1.4 0.8 The components of lease expense for the year ended December 31, 2023, 2022, and 2021 were as follows: SCHEDULE OF LEASE EXPENSE December 31, 2023 2022 2021 (in thousands) Operating lease cost $ 581 $ 987 $ 707 Finance lease cost: Amortization of right-of-use assets 478 470 466 Interest on lease liabilities 156 190 446 Total lease cost $ 1,215 $ 1,647 $ 1,619 As of December 31, 2023, future maturities of lease liabilities were as follows: SCHEDULE OF FUTURE OF LEASE LIABILITIES Operating Leases Finance Leases (in thousands) 2024 $ 728 $ 1,112 2025 601 461 2026 570 98 2027 542 68 2028 127 27 Thereafter 1,120 1 Total lease payments 3,688 1,767 Less: Interest (872 ) (116 ) Present value of lease liabilities $ 2,816 $ 1,651 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Other information related to leases for the year ended December 31, 2023, 2022, and 2021 were as follows: SCHEDULE OF OTHER INFORMATION RELATED TO LEASES December 31, 2023 2022 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 581 $ 987 $ 707 Operating cash flows for finance leases $ 478 $ 470 $ 466 Financing cash flows for finance leases $ 156 $ 190 $ 446

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
ACCOUNTS RECEIVABLE	5. ACCOUNTS RECEIVABLE The gross and realizable value of accounts receivable are detailed as follows: SCHEDULE OF ACCOUNT RECEIVABLES December 31, 2023 2022 (in thousands) Accounts receivable $ 49,695 $ 44,925 Allowance for credit losses (14,979 ) (14,067 ) Total $ 34,716 $ 30,858 Changes in allowances for credit losses consisted of: SCHEDULE OF CHANGES IN ALLOWANCES FOR CREDIT LOSSES Allowance for Credit Losses (in thousands) Balance at December 31, 2021 $ (15,737 ) Current period provision for expected credit losses (150 ) Foreign currency exchange adjustments 1,820 Balance at December 31, 2022 $ (14,067 ) Current period provision for expected credit losses (87 ) Foreign currency exchange adjustments (825 ) Balance at December 31, 2023 $ (14,979 )

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
Prepaid Expenses And Other Current Assets
PREPAID EXPENSES AND OTHER CURRENT ASSETS	6. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS 2023 2022 December 31, 2023 2022 (in thousands) Value-added tax receivable $ 1,547 $ 602 Prepaid income taxes 1,000 1,763 Advances to suppliers 3,696 4,000 Prepaid expenses 643 1,445 Insurance recoveries 4,984 4,708 Other current assets 3,784 3,827 Total $ 15,654 $ 16,345 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	7. INVENTORIES Inventories are detailed as follows: SCHEDULE OF INVENTORIES 2023 2022 December 31, 2023 2022 (in thousands) Merchandise $ 874 $ 825 Raw materials and consumable supplies 22,821 21,537 Finished Goods 4,683 4,856 Total $ 28,378 $ 27,218 The Company has no

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	8. PROPERTY, PLANT AND EQUIPMENT, NET SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, NET 2023 2022 December 31, 2023 2022 (in thousands) Land $ 25,389 $ 23,988 Buildings 63,200 55,542 Machinery and equipment 63,284 51,374 Assets in progress 10,354 8,458 Others 9,393 8,679 Total 171,620 148,041 Less accumulated depreciation (54,700 ) (47,514 ) Total $ 116,920 $ 100,527 Depreciation expense was $ 4,763 4,993

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	9. GOODWILL AND OTHER INTANGIBLE ASSETS In connection with the establishment of reporting segments for each reporting period, the Company allocated goodwill between reporting units using a relative fair value allocation approach. Changes in the carrying amount of goodwill allocated to its reporting units for the year ended December 31, 2023, and 2022 are as follows: SCHEDULE OF GOODWILL Soft Durum Couscous Wheat Wheat and Pasta Total (in thousands) Balance at December 31, 2021 $ 35,194 $ 7,355 $ 9,022 $ 51,571 Foreign currency exchange adjustments (3,784 ) (848 ) (1,041 ) (5,673 ) Balance at December 31, 2022 $ 31,410 $ 6,507 $ 7,981 $ 45,898 Foreign currency exchange adjustments 1,741 381 468 2,590 Balance at December 31, 2023 $ 33,151 $ 6,888 $ 8,449 $ 48,488 The Company performed the annual impairment assessment as of December 31, 2023, and 2022, which did not result in impairment losses. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Changes in the carrying amount of intangible assets for the year ended December 31, 2023, and 2022 are as follows: SCHEDULE OF INTANGIBLE ASSETS Trade Customer Other Intangible names relationships intangibles Assets (in thousands) Balance at December 31, 2021 $ 1,011 $ 2,041 $ 923 $ 3,975 Acquisitions - - 262 262 Amortization - (90 ) (53 ) (143 ) Foreign currency exchange adjustments (84 ) (155 ) (132 ) (371 ) Balance at December 31, 2022 $ 927 $ 1,796 $ 1,000 $ 3,723 Beginning balance $ 927 $ 1,796 $ 1,000 $ 3,723 Acquisitions - - 987 987 Amortization - (92 ) (168 ) (260 ) Foreign currency exchange adjustments 40 71 87 198 Balance at December 31, 2023 $ 967 $ 1,775 $ 1,906 $ 4,648 Ending balance $ 967 $ 1,775 $ 1,906 $ 4,648 As of December 31, 2023, the weighted-average remaining amortization period for intangibles other than goodwill is 9 years and future intangible amortization is expected to total the following: SCHEDULE OF FUTURE INTANGIBLE AMORTIZATION (in thousands) 2024 $ 469 2025 469 2026 469 2027 371 2028 273 Thereafter 1,630 Total amortization $ 3,681

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES	10. ACCRUED EXPENSES Accrued expenses consist of: SCHEDULE OF ACCRUED EXPENSES 2023 2022 December 31, 2023 2022 (in thousands) Consideration payable to selling stockholder $ 8,840 $ 8,200 Accrued government taxes 5,580 5,517 Accrued interest 2,047 3,781 Accrued salaries and benefits 657 600 Accruals to social agencies 669 664 Other accrued expenses 322 212 Total $ 18,115 $ 18,974

LINES OF CREDIT

LINES OF CREDIT	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
LINES OF CREDIT	11. LINES OF CREDIT Lines of Credit – working capital The Company has entered into unsecured revolving credit agreements with several financial institutions to fund working capital requirements (“WC Lines of Credit”). The WC Lines of Credit provide the Company with the ability to borrow funds under consolidated lines of credit of up to approximately $ 50,000 5.6 7.5 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Lines of Credit – wheat inventories The Company has entered into credit agreements with several financial institutions for asset-based credit facilities in order to fund wheat raw material purchases (“Wheat Credit Facilities”). The Wheat Credit Facilities provide the ability to borrow funds under consolidated lines of credit of up to approximately $ 142,000 1.4 7.5

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	12. LONG-TERM DEBT The long-term debt of is presented as follows: SCHEDULE OF LONG TERM DEBT 2023 2022 December 31, 2023 2022 (in thousands) Loans $ 17,845 $ 12,344 Leases 4,467 2,901 Total outstanding debt 22,312 15,245 Less current portion (10,471 ) (5,417 ) Total long-term debt $ 11,841 $ 9,828 The term loans and other financial liabilities are evaluated according to the amortized cost method using the effective interest rate of the loan. The loan issuance costs and premiums, if any, are determined at inception and are amortized over the useful life of the loan via the effective interest rate. Term Loans The Company maintains term loans with several financial institutions (the “Term Loans”). The Term Loans are unsecured and have fixed monthly payments ranging from approximately $ 14 104 5.5 5.9 Lease Obligations The Company owes $ 4,467 2,901 The scheduled maturities of outstanding debt As of December 31, 2023 are as follows: SCHEDULE OF MATURITIES OF OUTSTANDING DEBT (in thousands) 2024 10,471 2025 3,591 2026 2,820 2027 2,204 2028 743 Thereafter 2,483 Total outstanding debt $ 22,312

FOREIGN CURRENCY FORWARD CONTRA

FOREIGN CURRENCY FORWARD CONTRACTS	12 Months Ended
	Dec. 31, 2023
Foreign Currency Forward Contracts
FOREIGN CURRENCY FORWARD CONTRACTS	13. FOREIGN CURRENCY FORWARD CONTRACTS Our global operations require active participation in foreign exchange markets. From the beginning of 2023, the Company entered into foreign currency forward contracts to reduce the risk arising from foreign exchange rate fluctuations. We do not utilize hedge accounting and as such value open foreign currency forward contracts at fair value with the change in unrealized gain or loss recorded in “Change in fair value of derivatives and contingent consideration” on the Company’s consolidated statements of operations. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The Company had 50 foreign currency forward contracts outstanding as of December 31, 2023, with a notional value of $ 14,100 40,200 36,400 December 31, 2024 Foreign currency forward contracts are marked-to-market based on the difference between the forward rate and the exchange rate as of the reporting period; thus, the Company measures the fair value of these contracts under a Level 2 input. The foreign currency forward contract assets and liabilities totaled $ 430 337 91

CONTINGENT CONSIDERATION LIABIL

CONTINGENT CONSIDERATION LIABILITY	12 Months Ended
	Dec. 31, 2023
Contingent Consideration Liability
CONTINGENT CONSIDERATION LIABILITY	14. CONTINGENT CONSIDERATION LIABILITY In accordance with the terms of the Business Combination Agreement, the Company will pay to the Seller 20% of any cash proceeds received by Company before the five-year anniversary of the Closing resulting from the exercise of Company Warrants outstanding as of the Signing Date. The contingent consideration liability is included in “Contingent consideration liability” on the consolidated balance sheet. Changes in the fair value of the liability are included in “Change in fair value of derivatives and contingent consideration” on the Consolidated Statements of Operations. The Company utilized a probability weighted scenario-based model under a level 3 input to determine the fair value of the contingent consideration. Based on this valuation model, the Company determined the fair value of the contingent consideration to be $ 1,326 1,260 The significant unobservable inputs used in the fair value measurement of the contingent consideration liability are measures of the estimated payouts over a five-year period based on internally generated financial projections on a probability-weighted basis and a discount rate which was in a range of 4.49 5.47 4.94 The following table presents a summary of the changes in the fair value of the contingent consideration liability: SCHEDULE OF FAIR VALUE MEASUREMENT OF CONTINGENT CONSIDERATION LIABILITY (in thousands) June 9, 2022 $ 1,308 Change in fair value (48 ) December 31, 2022 $ 1,260 Change in fair value 66 December 31, 2023 $ 1,326

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	15. INCOME TAXES The following table presents the components of the December 31, 2023, 2022 and 2021 provision for income taxes: SCHEDULE OF COMPONENTS OF PROVISION FOR INCOME TAX 2023 2022 2021 December 31, 2023 2022 2021 (in thousands) Current $ 1,987 $ 2,228 $ 2,104 Deferred (2,093 ) (4,286 ) (2,193 ) Total income tax expense $ (106 ) $ (2,058 ) $ (89 ) FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The Company’s effective tax rate was 1 10 1 The current tax expense corresponds to the amounts paid or pending of payment in short-term to the Moroccan tax authorities for the period, according to the Law and Regulations of Morocco. The Company’s filed tax returns from the 2019 through 2023 tax years remain open for examination by the tax authorities under the normal statute of limitations. According to tax legislation in Morocco, companies are taxed on the difference between their trading income and expenditure. Business expenses incurred in the operation of the business are generally deductible unless specifically excluded. The Moroccan 2023 Tax Code enacted a tax reform by fixing two target rates as follows: - 20 100 - 35 100 All the group’s entities in Morocco will be progressively subject to the 20 Companies in Mali and Burkina are subject to an income tax of 30 27.5 The following is a reconciliation of income tax expense computed at the Moroccan statutory tax rate to the income tax benefit reported in the consolidated statements of operations: SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE 2022 2021 2020 December 31, 2023 2022 2021 (in thousands) Net loss $ (12,508 ) $ (19,170 ) $ (7,784 ) Income tax expense for the period (106 ) (2,058 ) (89 ) Income (loss) before tax (12,614 ) (21,228 ) (7,873 ) Effective tax rate 1 % 10 % 1 % Permanent differences not deductible (taxable) for tax purposes 3,942 (1,799 ) (971 ) Unrecognized tax losses 695 6,322 3,323 Change in the valuation allowance (2,221 ) - - Recalculated tax expense $ (2,523 ) $ (6,581 ) $ (2,441 ) Statutory tax rate in Morocco 20 % 31 % 31 % The tax effects of temporary differences giving rise to deferred income tax assets (liabilities) were: SCHEDULE OF DEFERRED INCOME TAX ASSETS 2023 2022 December 31, 2023 2022 (in thousands) Fixed assets and intangible assets (10,810 ) (10,292 ) Loss carryforward 7,446 12,021 Leases (2,344 ) (2,078 ) Others (102 ) (29 ) Less: valuation allowance (5,172 ) (12,021 ) Deferred tax liabilities, net $ (10,982 ) $ (12,399 ) FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) During the years ended December 31, 2023, and 2022, the Company has $ 37,228 48,684 23,546 36,663 to expire within four years In assessing the realizability of these deferred tax assets, management considers whether it is more-likely-than-not that some portion or all the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those periods in which temporary differences become deductible and/or net operating loss carryforwards can be utilized. The Company considers the level of historical taxable income, scheduled reversal of temporary differences, tax planning strategies, and projected future taxable income in determining whether a valuation allowance is warranted. The Company maintains a valuation allowance for deferred tax assets that may not be realizable in the future. During the year ended December 31, 2023, the Company reassessed its deferred tax assets and liabilities, including the valuation allowance, in accordance with ASC 740, “Income Taxes.” As a result of this assessment, the Company determined that it is more likely than not that a portion of the previously established valuation allowance is no longer necessary. Therefore, the Company released a portion of the valuation allowance, resulting in a decrease in income tax expense of $ 2,221 As of each reporting date, we consider existing evidence, both positive and negative, that could impact our view with regard to future realization of deferred tax assets. Following the release of the aforementioned valuation allowance, we continue to believe it is more likely than not that the benefit for certain net operating loss carryforwards will not be realized. In recognition of this risk, we continue to provide a partial valuation allowance on the deferred tax assets relating to these carryforwards in the amount of $ 5,172

VARIABLE INTEREST ENTITIES AND

VARIABLE INTEREST ENTITIES AND ACQUISITIONS	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
VARIABLE INTEREST ENTITIES AND ACQUISITIONS	16. VARIABLE INTEREST ENTITIES AND ACQUISITIONS Asset acquisitions On July 26, 2023, Forafric acquired 90 56 5,318 The transaction met the screen test and was accounted for as an acquisition of assets under U.S. GAAP. Accordingly, the acquisition cost was allocated on a relative fair value basis. The following table represents the final purchase cost allocation: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Allocated cost Assumed debt Noncontrolling interest Total consideration paid Current assets Current liabilities Property, plant, and equipment $ 8,788 Tradename Customer relationship Other intangible assets Intangible assets 686 Right-of-use assets 331 Inventories 59 Accounts receivable 28 Cash and cash equivalents 7 Other liabilities, noncurrent (2,328 ) Accounts payable (1,503 ) Other payables (693 ) Total net assets acquired $ 5,374 Goodwill Consolidated Variable Interest Entities Sanabil SA Effective on October 7, 2021, the Company completed a share purchase acquisition of Moulins Sanabil SA (“Sanabil SA”). By way of the acquisition, the Company acquired a 60 Pursuant to the terms of the agreement, the purchase price of the acquisition was $ 332 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The following table represents the final allocation of the purchase consideration among assets acquired and liabilities assumed at their estimated acquisition date fair values: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Consideration paid: Cash $ 332 Assumed debt 6,548 Noncontrolling interest 221 Total consideration paid $ 7,101 Net assets acquired: Current assets $ 4,665 Current liabilities (4,416 ) Property, plant and equipment 5,413 Tradename 323 Customer relationship 453 Total net assets acquired 6,438 Goodwill 663 Total consideration paid $ 7,101 The valuation of the acquired intangible assets is inherently subjective and relies on significant unobservable inputs. The Company used an income approach to value the acquired customer relationships intangible assets. The method used for the acquired trade name intangible assets was the Relief from Royalty Method. The valuation for each of these intangible assets was based on estimated projections of expected cash flows to be generated by the assets, discounted to the present value at discount rates commensurate with perceived risk. The valuation assumptions take into consideration the Company’s estimates of customer attrition and revenue growth projections. The Company is amortizing the identifiable intangible assets arising from the Sanabil SA acquisition in relation to the expected cash flows from the individual intangible assets over their respective useful lives, which have a weighted average life of 20 MDS Burkina Effective on July 30, 2021, the Company completed a share purchase acquisition of MDS Burkina. By way of the acquisition, the Company acquired a 78.21 Pursuant to the terms of the agreement, the Company will provide financial investments to MDS Burkina in the form of a cash consideration for a total amount of $ 6,153 The Company thus agreed to fund MDS Burkina for operational cash flow needs and bear the risk of its losses from operations and MDA Burkina agrees that the Company has rights to 78.21 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The following table represents the preliminary allocation of the purchase consideration among assets acquired and liabilities assumed at their estimated acquisition date fair values: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Consideration paid: Cash $ 6,153 Assumed debt 7,348 Noncontrolling interest 1,714 Total consideration paid $ 15,215 Net assets acquired: Current assets $ 4,559 Current liabilities (1,144 ) Property, plant and equipment 9,970 Total net assets acquired 13,385 Goodwill 1,830 Total consideration paid $ 15,215 Goodwill represents MDS Burkina’s market presence and its experienced workforce as well as future potential to generate cash flows and other economic benefits and results from assets that are not separately identifiable as part of the transaction and is not deductible for tax purposes. The Company incurred no material transaction costs for the acquisition of MDS Burkina. MDS Mali Effective on April 30, 2021, the Company completed a share purchase acquisition of MDS Mali. By way of the acquisition, the Company acquired a 70.35 Pursuant to the terms of the agreement, the Company will provide financial investments to MDS Mali in the form of a cash consideration for a total amount of $ 9,579 The following table represents the final allocation of the purchase consideration among assets acquired and liabilities assumed at their estimated acquisition date fair values: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Consideration paid: Cash $ 9,579 Assumed debt 9,723 Noncontrolling interest 4,037 Total consideration paid $ 23,339 Net assets acquired: Current assets $ 16,715 Current liabilities (7,293 ) Property, plant and equipment 8,289 Tradename 734 Customer relationship 1,760 Other intangible assets 20 Total net assets acquired 20,225 Goodwill 3,114 Total consideration paid $ 23,339 The valuation of the acquired intangible assets is inherently subjective and relies on significant unobservable inputs. The Company used an income approach to value the acquired customer relationships intangible assets. The method used for the acquired trade name intangible assets was the Relief from Royalty Method. The valuation for each of these intangible assets was based on estimated projections of expected cash flows to be generated by the assets, discounted to the present value at discount rates commensurate with perceived risk. The valuation assumptions take into consideration the Company’s estimates of customer attrition and revenue growth projections. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The Company is amortizing the identifiable intangible assets arising from the MDS Mali acquisition in relation to the expected cash flows from the individual intangible assets over their respective useful lives, which have a weighted average life of 20 Goodwill represents MDS Mali’s market presence and its experienced workforce as well as future potential to generate cash flows and other economic benefits and results from assets that are not separately identifiable as part of the transaction and is not deductible for tax purposes. The Company incurred no material transaction costs for the acquisition of MDS Mali. Pro Forma information The following unaudited pro forma information presents the aggregate impact of the results of operations of Sanabil SA, MDS Burkina and MDS Mali on the Company revenue and net income (loss) for the years ended December 31, 2021, and 2020 as if the acquisitions had been completed on January 1, 2020, with adjustments to give effect to pro forma events that are directly attributable to the acquisitions. The unaudited pro forma information does not reflect any operating efficiencies or potential cost savings that may result from the consolidation of the operations of the Company and the acquisitions. Accordingly, this unaudited pro forma information is presented for illustrative purposes and are not intended to represent or be indicative of the actual impact on the results of operations of the Company that would have been achieved had the acquisitions occurred at January 1, 2020, nor are they intended to represent or be indicative of impact on future results of operations: SCHEDULE OF FUTURE RESULTS OF OPERATIONS 2021 2020 December 31, 2021 2020 (in thousands) Revenues $ 39,896 $ 33,195 Net loss $ (444 ) $ (1,542 ) Changes in non-controlling interest Acquisition of additional interest in Sanabil During 2023, the Company increased its ownership in Sanabil SA from 60% 80%

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	17. STOCKHOLDERS’ EQUITY Capital stock Preferred Shares - 1,000,000 .001 Ordinary Shares - 100,000,000 .001 26,879,202 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Class Z non-redeemable and non-convertible ordinary shares 30,000,000 0.001 - 29,999,990 Warrants Public Warrants 11,461,120 11,461,220 11.50 0.01 - at any time while the warrants are exercisable; - upon not less than 30 days’ prior written notice of redemption to each warrant holder; - if, and only if, the reported last sale price of the Ordinary Share equals or exceeds $ 16.50 - if, and only if, there is a current registration statement in effect with respect to the Ordinary Share underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. Private Warrants 4,289,722 11.50 Stockholder Earn-Out Rights As a part of the Business Combination consideration, the selling stockholder shall be entitled to receive, as additional consideration, and without any action on behalf of the Company or the Company’s stockholders, additional ordinary shares (the “Earnout Shares”), to be issued as follows during the period from and after the Closing until the end of calendar year 2024 (A) 500,000 27 500,000 33 1,000,000 16.50 no The Earnout have been deemed financial instruments to be issued upon the occurrence of contingent earn out provisions. The Earnout Shares are accounted for under ASC Topic 815-40, “Derivatives and Hedging”, pursuant to which the Earnout Shares are considered to be indexed to the Company’s own stock and therefore will be classified as equity instruments.

EQUITY INCENTIVE PLAN

EQUITY INCENTIVE PLAN	12 Months Ended
	Dec. 31, 2023
Equity Incentive Plan
EQUITY INCENTIVE PLAN	18. EQUITY INCENTIVE PLAN In connection with the Business Combination, the Stockholders of the Company considered and approved the Forafric 2022 Long Term Employee Share Incentive Plan (the “Equity Incentive Plan”) which provides for the grant of awards, consisting of nominal cost options or phantom options to employees, directors and consultants of the Company or any of its subsidiaries. The maximum number of shares which may be the subject of awards under the Equity Incentive Plan may not exceed 10% of the issued share capital of the Company from time to time and the maximum number of shares reserved and available for issuance shall not exceed 2,645,684 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The following table summarizes all stock option activity for the year ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITY Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (thousands) Outstanding at December 31, 2022 - $ - - $ - Granted 64,705 0.001 9.38 685 Exercised - - - - Forfeited/Expired - - - - Outstanding at December 31, 2023 $ 64,705 $ 0.001 $ 9.38 $ 685 Exercisable at December 31, 2023 $ - $ - $ - $ - The weighted-average grant-date fair value of options granted during the year ended December 31, 2023, was $ 10.99 As of December 31, 2023, the unrecognized compensation expense associated with the stock options is $ 542 24 The grant date fair value of the stock options was estimated using the following assumptions: SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS Expected term 5 Volatility 62.39 % Expected dividend yield 0.00 % Annual Risk Free Rate 3.52 % The following table summarizes the phantom option activity for the year ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITY Phantom Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (thousands) Outstanding at December 31, 2022 - $ - - - Granted 53,613 0.001 9.39 568 Exercised - - - - Forfeited/Expired - - - - Outstanding at December 31, 2023 $ 53,613 $ 0.001 $ 9.39 $ 568 Exercisable at December 31, 2023 $ - $ - $ - $ - The weighted-average fair value of the phantom stock options for the year ended December 31, 2023, was $ 10.59 135 As of December 31, 2023, the unrecognized compensation expense associated with the phantom options is $ 433 24 The fair value of the phantom options at December 31, 2023 was estimated using the following assumptions: SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS Expected term 5 Volatility 60.31 % Expected dividend yield 0.00 % Annual Risk Free Rate 3.84 % FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	19. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income (loss) by the number of weighted average ordinary shares outstanding during the reporting period. The Company’s weighted average number of shares outstanding used in calculating earnings per share are 26,879,159 26,604,710 20,555,595 The computation of diluted loss per share excludes the effect of earnout and option shares and warrants to purchase the Company’s shares because their inclusion would be anti-dilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	20. COMMITMENTS AND CONTINGENCIES Since February 2022, the quantity of soft wheat available on the international market has decreased by 35% due to the ongoing war in Ukraine, causing the price of raw materials to increase. Despite this situation, we have not had any shortages on raw materials, and do not project to have any issuing fulfilling future orders. We have no firm and irrevocable commitments that will be affected by the war in Ukraine, and we will continue to assess the impact the war may have on our business. The Company entered into a five-year supply agreement with Millcorp Geneva SA (“Millcorp”), pursuant to which the Company is obligated to obtain at least 80% of the Company’s annual requirements of common wheat, durum wheat, or any other cereal, from Millcorp. The agreement expired on March 31, 2023 and was subsequently amended to extend through March 2026. Millcorp is currently providing 100% of the Company’s imported grain needs. The purchases incurred were $ 147,284 207,188 141,565 The Company has commitments with banks to finance its operating activities. The Company has provided collateral and mortgages to banks of $ 25,464 From time to time the Company is involved in litigation incidental to the conduct of its business. These matters may relate to employment and labor claims, patent and intellectual property claims, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. When applicable, the Company records accruals for contingencies when it is probable that a liability will be incurred, and the amount of loss can be reasonably estimated. Defense costs are expensed as incurred and are included in professional fees. While the outcome of lawsuits and other proceedings against the Company cannot be predicted with certainty, in the opinion of management, individually or in the aggregate, no such lawsuits and other proceedings had or are expected to have a material effect on the consolidated financial statements at December 31, 2023.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	21. SEGMENT INFORMATION The Company manages operations on a company-wide basis, thereby making determinations as to the allocation of resources in total rather than on a segment-level basis. The Company has designated reportable segments based on how management views its business. The Company does not segregate assets between segments for internal reporting. Therefore, asset-related information has not been presented. The reportable segments, as presented below, are consistent with the way the Company reports its results to the chief operating decision maker (“CODM”). The principal products that comprise each segment are as follows: Soft Wheat Durum Wheat Couscous and Pasta The “all other” category includes activities and items not allocated to reportable segments, such as non-operating entities, non-significant activities and centrally incurred corporate overhead expenses. The Company evaluates the performance of its segments based on sales and operating income. Operating income (loss) is defined as gross profit less sales & marketing costs, direct selling, general, and administrative expenses, and other operating expenses. The amounts in the following tables are obtained from reports used by senior management and do not include income taxes. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Financial information relating to the Company’s reportable segments is as follows: SCHEDULE OF COMPANY REPORTABLE SEGMENTS 2023 2022 2021 December 31, 2023 2022 2021 (in thousands) Sales to external customers: Soft Wheat $ 218,761 $ 213,775 $ 173,085 Durum Wheat 51,755 44,447 53,546 Couscous & Pasta 31,410 27,159 28,819 All other 3,550 4,391 6,229 Total $ 305,476 $ 289,772 $ 261,679 Operating income (loss) Soft Wheat $ 2,288 $ 8,957 $ 1,233 Durum Wheat 327 (4,508 ) 600 Couscous & Pasta 1,666 (1,924 ) 1,734 All other (3,148 ) (3,947 ) (181 ) Operating income (loss) $ 1,133 $ (1,422 ) $ 3,386 Geographic Information 12.7 8.5 2.2 2.0 10.9 Long-lived assets consist of net property, plant, and equipment. The geographic location of long-lived assets is as follows: SCHEDULE OF LONG-LIVED ASSETS NET PROPERTY, PLANT AND EQUIPMENT 2023 2022 December 31, 2023 2022 (in thousands) Morocco $ 96,149 $ 79,125 Burkina 8,913 8,793 Mali 6,991 6,732 Angola 4,396 5,391 Other 471 486 Total $ 116,920 $ 100,527

RELATED PARTIES

RELATED PARTIES	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTIES	22. RELATED PARTIES The following discussion summarizes activity between the Company and related parties. In 2015, the Company entered into a building lease agreement for the headquarters of Forafric Maroc, a wholly owned subsidiary. The Company’s Parent owns 100 420 Millcorp provides 100% of the imported grain to the Company. The purchases incurred were $ 147,284 207,188 141,565 The Company’s amounts due from related parties were $ 1,358 2,366 The Company’s loans due to related parties were $ 1,486 1,801 Moreover, the Company owed the Lighthouse Capital Limited $ 8 8 8,840 8,200 The Company has not entered into any significant transactions with other related parties.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	23. SUBSEQUENT EVENTS In preparing the consolidated financial statements through the December 31, 2023, the Company has evaluated subsequent events for recognition and disclosure through April 30, 2024, the date that these consolidated financial statements and accompanying notes were available for issuance.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates
Principles of Consolidation	Principles of Consolidation Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive the benefits from its activities that could potentially be significant to the entity. In assessing control, potential voting rights that are currently exercisable or convertible are considered. The accounts of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.
Cash Equivalents	Cash Equivalents
Accounts Receivable and Allowances for Credit Losses	Accounts Receivable and Allowances for Credit Losses
Inventories	Inventories
Other Receivables	Other Receivables 99,453 38,364 FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Property, Plant, and Equipment	Property, Plant, and Equipment SCHEDULE OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT Assets Useful Lives Buildings 39 Machinery and equipment (technical installations) 30 50 Other assets 5 30 Building improvements are depreciated over the shorter of the estimated useful life of the assets or the remaining useful life. Leasehold improvements are amortized over the shorter of their useful life or remaining lease term. Expenditures for repairs and maintenance, which do not improve or extend the life of the assets, are expensed as incurred. We perform impairment tests when circumstances indicate that the carrying value of an asset may not be recoverable. Indicators of impairment include deteriorations in operating cash flows, the anticipated sale or disposal of an asset group, and other significant changes in business conditions. Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company’s assessment of recoverability of property, plant and equipment is performed on a reporting unit level. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of such asset to its estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of such asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets SCHEDULE OF ESTIMATED USEFUL LIFE OF GOODWILL AND OTHER INTANGIBLE ASSETS Assets Useful Lives Trademarks Indefinite Customer relationships 20 Patents and licenses 5 10 Computer software 5 10 Other intangible assets 3 10 Recognized intangible assets, exclusive of goodwill, are amortized over the useful lives of the assets unless that life is determined to be indefinite. All of our intangible assets, exclusive of goodwill and trademarks, are finite lived. All amortization expense related to intangible assets is recorded in Selling, general, and administrative expense in the consolidated statements of operations. Intangible assets with finite lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows. Goodwill and other indefinite-lived intangible assets are evaluated for impairment annually, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Our annual impairment evaluation is conducted during our fiscal fourth quarter. In accordance with the accounting standards, an entity has the option first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that goodwill or an indefinite-lived intangible asset is impaired. If after such assessment an entity concludes that the asset is not impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the asset using a quantitative impairment test, and if impaired, the associated assets must be written down to fair value. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The quantitative impairment test for goodwill compares the fair value of a reporting unit with the carrying value of its net assets, including goodwill. If the fair value of the reporting unit is less than the carrying value of the reporting unit, an impairment charge would be recorded to the Company’s operations, for the amount in which the carrying amount exceeds the reporting unit’s fair value. We determine fair values for each reporting unit using the market approach, when available and appropriate, the income approach, or a combination of both. The income approach involves forecasting projected financial information (such as revenue growth rates, profit margins, tax rates, and capital expenditures) and selecting a discount rate that reflects the risk inherent in estimated future cash flows. Under the market approach, the fair value is based on observed market data. If multiple valuation methodologies are used, the results are weighted appropriately.
Segment Reporting	Segment Reporting
Advertising	Advertising 258 19 536
Leases	Leases
Share-Based Compensation	Share-Based Compensation The Company uses the Black-Scholes option pricing model to determine the grant date fair value of its stock options and phantom options, respectively, as well as the fair value at each reporting period for liability classified awards. This model requires the Company to estimate the expected volatility and the expected term of the stock options, which are highly complex and subjective variables. The Company uses an expected volatility of its stock price during the expected life of the options that is based on the historical performance of the Company’s stock price as well as including an estimate using similar companies. The expected term is computed using the simplified method as the Company’s best estimate given its lack of actual exercise history. The Company has selected a risk-free rate based on the implied yield available on U.S. Treasury securities with a maturity equivalent to the expected exercise term of the stock option. The inputs to the valuation of phantom options are observable in the market, and as such are classified as Level 2 in the fair value hierarchy. The Company accounts for forfeitures of share-based awards as the occur. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Business Combinations and Asset Acquisitions	Business Combinations and Asset Acquisitions The Company evaluates acquisitions of assets and other similar transactions to assess whether the transaction should be accounted for as a business combination or asset acquisition by first applying a screen test to determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If so, the transaction is accounted for as an asset acquisition. If not, further determination is required as to whether the Company has acquired inputs and processes that can create outputs that would meet the definition of a business. When applying the screen test, significant judgment is required to determine whether an acquisition is a business combination or an acquisition of assets. Accounting for asset acquisitions falls under the guidance of Topic 805, Business Combinations, specifically Subtopic 805-50. A cost accumulation model is used to determine an asset acquisition’s cost. Assets acquired are based on their cost, generally allocated to them on a relative fair value basis. Direct acquisition-related costs are included in the cost of the acquired assets.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions
Credit Risk	Credit Risk
Revenue Recognition	Revenue Recognition Revenue from Contracts with Customers Revenue related to the sale of goods is measured based on consideration specified in a contract with a customer. The Company recognizes revenue from these contracts at a point in time when it satisfies a performance obligation by transferring control of a product to a customer, generally when legal title and risks and rewards transfer to the customer. Sales terms typically provide for transfer of title at the time and point of delivery and acceptance of the product being sold. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Amounts received from customers prior to revenue recognition on a contract are recorded as contract liabilities on the consolidated balance sheets. Amounts paid to suppliers prior to purchase recognition are recorded within prepaid expenses and other current assets on the consolidated balance sheets.
Shipping and Handling Costs	Shipping and Handling Costs
Taxes Collected from Customers and Remitted to Governmental Authorities	Taxes Collected from Customers and Remitted to Governmental Authorities
Transaction Costs	Transaction Costs
Income Taxes	Income Taxes
Accounting for Warrants	Accounting for Warrants
Foreign Currency Forward Contracts	Foreign Currency Forward Contracts
Fair Value Measurements	Fair Value Measurements FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used to value the assets and liabilities: - Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. - Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. - Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The Company’s financial instruments include cash equivalents, accounts receivable from customers, other receivables, prepaid expenses and other current assets, accounts payable and accrued liabilities, all of which are typically short-term in nature. The Company believes that the carrying amounts of these financial instruments reasonably approximate their fair values due to their short-term nature. The Company measures the derivative liability and asset related to foreign currency forward contracts at fair value on a recurring basis. Refer to Note 13 – Foreign currency forward contracts. The Company measures the contingent consideration liability at fair value on a recurring basis on each reporting date. Refer to Note 14 — Contingent Consideration Liability for further information.
Non-Controlling Interests	Non-Controlling Interests
Emerging Growth Company Status	Emerging Growth Company Status
Reclassifications	Reclassifications
Liquidity and going concern	Liquidity and going concern

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SCHEDULE OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT	SCHEDULE OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT Assets Useful Lives Buildings 39 Machinery and equipment (technical installations) 30 50 Other assets 5 30
SCHEDULE OF ESTIMATED USEFUL LIFE OF GOODWILL AND OTHER INTANGIBLE ASSETS	SCHEDULE OF ESTIMATED USEFUL LIFE OF GOODWILL AND OTHER INTANGIBLE ASSETS Assets Useful Lives Trademarks Indefinite Customer relationships 20 Patents and licenses 5 10 Computer software 5 10 Other intangible assets 3 10

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases
SCHEDULE OF BALANCE SHEET CLASSIFICATION	Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET CLASSIFICATION Balance Sheet December 31, Classification 2023 2022 (in thousands) Assets Operating leases Right-of-use assets $ 3,377 $ 1,816 Finance leases Right-of-use assets 10,008 8,614 Total assets $ 13,385 $ 10,430 Liabilities Current liabilities Operating leases Current portion of long-term debt $ 625 $ 621 Finance leases Current portion of long-term debt 1,009 1,380 Total current liabilities 1,634 2,001 Noncurrent liabilities Operating leases Long-term debt 2,191 665 Finance leases Long-term debt 642 235 Total noncurrent liabilities 2,833 900 Total liabilities $ 4,467 $ 2,901
SCHEDULE OF WEIGHTED AVERAGE DISCOUNT RATES OF LEASES	The weighted-average discount rates for the Company’s leases were as follows: SCHEDULE OF WEIGHTED AVERAGE DISCOUNT RATES OF LEASES December 31, 2023 2022 Operating leases 5.0 % 5.0 % Finance leases 7.0 % 6.1 %
SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM	The weighted-average remaining lease term of the Company’s leases were as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM December 31, 2023 2022 Operating leases 6.5 6.4 Finance leases 1.4 0.8
SCHEDULE OF LEASE EXPENSE	The components of lease expense for the year ended December 31, 2023, 2022, and 2021 were as follows: SCHEDULE OF LEASE EXPENSE December 31, 2023 2022 2021 (in thousands) Operating lease cost $ 581 $ 987 $ 707 Finance lease cost: Amortization of right-of-use assets 478 470 466 Interest on lease liabilities 156 190 446 Total lease cost $ 1,215 $ 1,647 $ 1,619
SCHEDULE OF FUTURE OF LEASE LIABILITIES	As of December 31, 2023, future maturities of lease liabilities were as follows: SCHEDULE OF FUTURE OF LEASE LIABILITIES Operating Leases Finance Leases (in thousands) 2024 $ 728 $ 1,112 2025 601 461 2026 570 98 2027 542 68 2028 127 27 Thereafter 1,120 1 Total lease payments 3,688 1,767 Less: Interest (872 ) (116 ) Present value of lease liabilities $ 2,816 $ 1,651
SCHEDULE OF OTHER INFORMATION RELATED TO LEASES	Other information related to leases for the year ended December 31, 2023, 2022, and 2021 were as follows: SCHEDULE OF OTHER INFORMATION RELATED TO LEASES December 31, 2023 2022 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 581 $ 987 $ 707 Operating cash flows for finance leases $ 478 $ 470 $ 466 Financing cash flows for finance leases $ 156 $ 190 $ 446

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
SCHEDULE OF ACCOUNT RECEIVABLES	The gross and realizable value of accounts receivable are detailed as follows: SCHEDULE OF ACCOUNT RECEIVABLES December 31, 2023 2022 (in thousands) Accounts receivable $ 49,695 $ 44,925 Allowance for credit losses (14,979 ) (14,067 ) Total $ 34,716 $ 30,858
SCHEDULE OF CHANGES IN ALLOWANCES FOR CREDIT LOSSES	Changes in allowances for credit losses consisted of: SCHEDULE OF CHANGES IN ALLOWANCES FOR CREDIT LOSSES Allowance for Credit Losses (in thousands) Balance at December 31, 2021 $ (15,737 ) Current period provision for expected credit losses (150 ) Foreign currency exchange adjustments 1,820 Balance at December 31, 2022 $ (14,067 ) Current period provision for expected credit losses (87 ) Foreign currency exchange adjustments (825 ) Balance at December 31, 2023 $ (14,979 )

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid Expenses And Other Current Assets
SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS	Prepaid expenses and other current assets consist of: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS 2023 2022 December 31, 2023 2022 (in thousands) Value-added tax receivable $ 1,547 $ 602 Prepaid income taxes 1,000 1,763 Advances to suppliers 3,696 4,000 Prepaid expenses 643 1,445 Insurance recoveries 4,984 4,708 Other current assets 3,784 3,827 Total $ 15,654 $ 16,345

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORIES	Inventories are detailed as follows: SCHEDULE OF INVENTORIES 2023 2022 December 31, 2023 2022 (in thousands) Merchandise $ 874 $ 825 Raw materials and consumable supplies 22,821 21,537 Finished Goods 4,683 4,856 Total $ 28,378 $ 27,218

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, NET	SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, NET 2023 2022 December 31, 2023 2022 (in thousands) Land $ 25,389 $ 23,988 Buildings 63,200 55,542 Machinery and equipment 63,284 51,374 Assets in progress 10,354 8,458 Others 9,393 8,679 Total 171,620 148,041 Less accumulated depreciation (54,700 ) (47,514 ) Total $ 116,920 $ 100,527

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF GOODWILL	Changes in the carrying amount of goodwill allocated to its reporting units for the year ended December 31, 2023, and 2022 are as follows: SCHEDULE OF GOODWILL Soft Durum Couscous Wheat Wheat and Pasta Total (in thousands) Balance at December 31, 2021 $ 35,194 $ 7,355 $ 9,022 $ 51,571 Foreign currency exchange adjustments (3,784 ) (848 ) (1,041 ) (5,673 ) Balance at December 31, 2022 $ 31,410 $ 6,507 $ 7,981 $ 45,898 Foreign currency exchange adjustments 1,741 381 468 2,590 Balance at December 31, 2023 $ 33,151 $ 6,888 $ 8,449 $ 48,488
SCHEDULE OF INTANGIBLE ASSETS	Changes in the carrying amount of intangible assets for the year ended December 31, 2023, and 2022 are as follows: SCHEDULE OF INTANGIBLE ASSETS Trade Customer Other Intangible names relationships intangibles Assets (in thousands) Balance at December 31, 2021 $ 1,011 $ 2,041 $ 923 $ 3,975 Acquisitions - - 262 262 Amortization - (90 ) (53 ) (143 ) Foreign currency exchange adjustments (84 ) (155 ) (132 ) (371 ) Balance at December 31, 2022 $ 927 $ 1,796 $ 1,000 $ 3,723 Beginning balance $ 927 $ 1,796 $ 1,000 $ 3,723 Acquisitions - - 987 987 Amortization - (92 ) (168 ) (260 ) Foreign currency exchange adjustments 40 71 87 198 Balance at December 31, 2023 $ 967 $ 1,775 $ 1,906 $ 4,648 Ending balance $ 967 $ 1,775 $ 1,906 $ 4,648
SCHEDULE OF FUTURE INTANGIBLE AMORTIZATION	As of December 31, 2023, the weighted-average remaining amortization period for intangibles other than goodwill is 9 years and future intangible amortization is expected to total the following: SCHEDULE OF FUTURE INTANGIBLE AMORTIZATION (in thousands) 2024 $ 469 2025 469 2026 469 2027 371 2028 273 Thereafter 1,630 Total amortization $ 3,681

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	Accrued expenses consist of: SCHEDULE OF ACCRUED EXPENSES 2023 2022 December 31, 2023 2022 (in thousands) Consideration payable to selling stockholder $ 8,840 $ 8,200 Accrued government taxes 5,580 5,517 Accrued interest 2,047 3,781 Accrued salaries and benefits 657 600 Accruals to social agencies 669 664 Other accrued expenses 322 212 Total $ 18,115 $ 18,974

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
SCHEDULE OF LONG TERM DEBT	The long-term debt of is presented as follows: SCHEDULE OF LONG TERM DEBT 2023 2022 December 31, 2023 2022 (in thousands) Loans $ 17,845 $ 12,344 Leases 4,467 2,901 Total outstanding debt 22,312 15,245 Less current portion (10,471 ) (5,417 ) Total long-term debt $ 11,841 $ 9,828
SCHEDULE OF MATURITIES OF OUTSTANDING DEBT	The scheduled maturities of outstanding debt As of December 31, 2023 are as follows: SCHEDULE OF MATURITIES OF OUTSTANDING DEBT (in thousands) 2024 10,471 2025 3,591 2026 2,820 2027 2,204 2028 743 Thereafter 2,483 Total outstanding debt $ 22,312

CONTINGENT CONSIDERATION LIAB_2

CONTINGENT CONSIDERATION LIABILITY (Tables)	12 Months Ended
	Dec. 31, 2023
Contingent Consideration Liability
SCHEDULE OF FAIR VALUE MEASUREMENT OF CONTINGENT CONSIDERATION LIABILITY	The following table presents a summary of the changes in the fair value of the contingent consideration liability: SCHEDULE OF FAIR VALUE MEASUREMENT OF CONTINGENT CONSIDERATION LIABILITY (in thousands) June 9, 2022 $ 1,308 Change in fair value (48 ) December 31, 2022 $ 1,260 Change in fair value 66 December 31, 2023 $ 1,326

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF PROVISION FOR INCOME TAX	The following table presents the components of the December 31, 2023, 2022 and 2021 provision for income taxes: SCHEDULE OF COMPONENTS OF PROVISION FOR INCOME TAX 2023 2022 2021 December 31, 2023 2022 2021 (in thousands) Current $ 1,987 $ 2,228 $ 2,104 Deferred (2,093 ) (4,286 ) (2,193 ) Total income tax expense $ (106 ) $ (2,058 ) $ (89 )
SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE	The following is a reconciliation of income tax expense computed at the Moroccan statutory tax rate to the income tax benefit reported in the consolidated statements of operations: SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE 2022 2021 2020 December 31, 2023 2022 2021 (in thousands) Net loss $ (12,508 ) $ (19,170 ) $ (7,784 ) Income tax expense for the period (106 ) (2,058 ) (89 ) Income (loss) before tax (12,614 ) (21,228 ) (7,873 ) Effective tax rate 1 % 10 % 1 % Permanent differences not deductible (taxable) for tax purposes 3,942 (1,799 ) (971 ) Unrecognized tax losses 695 6,322 3,323 Change in the valuation allowance (2,221 ) - - Recalculated tax expense $ (2,523 ) $ (6,581 ) $ (2,441 ) Statutory tax rate in Morocco 20 % 31 % 31 %
SCHEDULE OF DEFERRED INCOME TAX ASSETS	The tax effects of temporary differences giving rise to deferred income tax assets (liabilities) were: SCHEDULE OF DEFERRED INCOME TAX ASSETS 2023 2022 December 31, 2023 2022 (in thousands) Fixed assets and intangible assets (10,810 ) (10,292 ) Loss carryforward 7,446 12,021 Leases (2,344 ) (2,078 ) Others (102 ) (29 ) Less: valuation allowance (5,172 ) (12,021 ) Deferred tax liabilities, net $ (10,982 ) $ (12,399 )

VARIABLE INTEREST ENTITIES AN_2

VARIABLE INTEREST ENTITIES AND ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Business Acquisition [Line Items]
SCHEDULE OF FUTURE RESULTS OF OPERATIONS	SCHEDULE OF FUTURE RESULTS OF OPERATIONS 2021 2020 December 31, 2021 2020 (in thousands) Revenues $ 39,896 $ 33,195 Net loss $ (444 ) $ (1,542 )
Societe Industrielle De Minoterie Du Sud [Member]
Business Acquisition [Line Items]
SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES	The following table represents the final purchase cost allocation: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Allocated cost Assumed debt Noncontrolling interest Total consideration paid Current assets Current liabilities Property, plant, and equipment $ 8,788 Tradename Customer relationship Other intangible assets Intangible assets 686 Right-of-use assets 331 Inventories 59 Accounts receivable 28 Cash and cash equivalents 7 Other liabilities, noncurrent (2,328 ) Accounts payable (1,503 ) Other payables (693 ) Total net assets acquired $ 5,374 Goodwill
Sanabil SA [Member]
Business Acquisition [Line Items]
SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES	The following table represents the final allocation of the purchase consideration among assets acquired and liabilities assumed at their estimated acquisition date fair values: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Consideration paid: Cash $ 332 Assumed debt 6,548 Noncontrolling interest 221 Total consideration paid $ 7,101 Net assets acquired: Current assets $ 4,665 Current liabilities (4,416 ) Property, plant and equipment 5,413 Tradename 323 Customer relationship 453 Total net assets acquired 6,438 Goodwill 663 Total consideration paid $ 7,101
MDS Burkina [Member]
Business Acquisition [Line Items]
SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES	The following table represents the preliminary allocation of the purchase consideration among assets acquired and liabilities assumed at their estimated acquisition date fair values: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Consideration paid: Cash $ 6,153 Assumed debt 7,348 Noncontrolling interest 1,714 Total consideration paid $ 15,215 Net assets acquired: Current assets $ 4,559 Current liabilities (1,144 ) Property, plant and equipment 9,970 Total net assets acquired 13,385 Goodwill 1,830 Total consideration paid $ 15,215
MDS Mali [Member]
Business Acquisition [Line Items]
SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES	The following table represents the final allocation of the purchase consideration among assets acquired and liabilities assumed at their estimated acquisition date fair values: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES Consideration paid: Cash $ 9,579 Assumed debt 9,723 Noncontrolling interest 4,037 Total consideration paid $ 23,339 Net assets acquired: Current assets $ 16,715 Current liabilities (7,293 ) Property, plant and equipment 8,289 Tradename 734 Customer relationship 1,760 Other intangible assets 20 Total net assets acquired 20,225 Goodwill 3,114 Total consideration paid $ 23,339

EQUITY INCENTIVE PLAN (Tables)

EQUITY INCENTIVE PLAN (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
SCHEDULE OF STOCK OPTION ACTIVITY	The following table summarizes all stock option activity for the year ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITY Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (thousands) Outstanding at December 31, 2022 - $ - - $ - Granted 64,705 0.001 9.38 685 Exercised - - - - Forfeited/Expired - - - - Outstanding at December 31, 2023 $ 64,705 $ 0.001 $ 9.38 $ 685 Exercisable at December 31, 2023 $ - $ - $ - $ -
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS	The grant date fair value of the stock options was estimated using the following assumptions: SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS Expected term 5 Volatility 62.39 % Expected dividend yield 0.00 % Annual Risk Free Rate 3.52 %
Phantom Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
SCHEDULE OF STOCK OPTION ACTIVITY	The following table summarizes the phantom option activity for the year ended December 31, 2023: SCHEDULE OF STOCK OPTION ACTIVITY Phantom Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (thousands) Outstanding at December 31, 2022 - $ - - - Granted 53,613 0.001 9.39 568 Exercised - - - - Forfeited/Expired - - - - Outstanding at December 31, 2023 $ 53,613 $ 0.001 $ 9.39 $ 568 Exercisable at December 31, 2023 $ - $ - $ - $ -
SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS	The fair value of the phantom options at December 31, 2023 was estimated using the following assumptions: SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS Expected term 5 Volatility 60.31 % Expected dividend yield 0.00 % Annual Risk Free Rate 3.84 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SCHEDULE OF COMPANY REPORTABLE SEGMENTS	Financial information relating to the Company’s reportable segments is as follows: SCHEDULE OF COMPANY REPORTABLE SEGMENTS 2023 2022 2021 December 31, 2023 2022 2021 (in thousands) Sales to external customers: Soft Wheat $ 218,761 $ 213,775 $ 173,085 Durum Wheat 51,755 44,447 53,546 Couscous & Pasta 31,410 27,159 28,819 All other 3,550 4,391 6,229 Total $ 305,476 $ 289,772 $ 261,679 Operating income (loss) Soft Wheat $ 2,288 $ 8,957 $ 1,233 Durum Wheat 327 (4,508 ) 600 Couscous & Pasta 1,666 (1,924 ) 1,734 All other (3,148 ) (3,947 ) (181 ) Operating income (loss) $ 1,133 $ (1,422 ) $ 3,386
SCHEDULE OF LONG-LIVED ASSETS NET PROPERTY, PLANT AND EQUIPMENT	Long-lived assets consist of net property, plant, and equipment. The geographic location of long-lived assets is as follows: SCHEDULE OF LONG-LIVED ASSETS NET PROPERTY, PLANT AND EQUIPMENT 2023 2022 December 31, 2023 2022 (in thousands) Morocco $ 96,149 $ 79,125 Burkina 8,913 8,793 Mali 6,991 6,732 Angola 4,396 5,391 Other 471 486 Total $ 116,920 $ 100,527

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details Narrative)	12 Months Ended
	Dec. 31, 2023	Jun. 09, 2022 $ / shares
Restructuring Cost and Reserve [Line Items]
Ordinary shares price		$ 0.001
Conversion ratio	0.1713
New Forafric [Member]
Restructuring Cost and Reserve [Line Items]
Acquired interest, percentage		100%

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT (Details)	Dec. 31, 2023
Building [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	39 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	30 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	50 years
Other Asset [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	5 years
Other Asset [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	30 years

SCHEDULE OF ESTIMATED USEFUL _2

SCHEDULE OF ESTIMATED USEFUL LIFE OF GOODWILL AND OTHER INTANGIBLE ASSETS (Details)	12 Months Ended
	Dec. 31, 2023
Trademarks [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful lives	Indefinite
Customer Relationships [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	20 years
Patents [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	5 years
Patents [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	10 years
Computer Software, Intangible Asset [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	5 years
Computer Software, Intangible Asset [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	10 years
Other Intangible Assets [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	3 years
Other Intangible Assets [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Goodwill and other intangible assets, useful life	10 years

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Government subsidies	$ 99,453	$ 38,364
Advertising expense	$ 258	$ 19	$ 536

SCHEDULE OF BALANCE SHEET CLASS

SCHEDULE OF BALANCE SHEET CLASSIFICATION (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total operating and finance leases assets	Total operating and finance leases assets
Operating lease right of use assets	$ 3,377	$ 1,816
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total operating and finance leases assets	Total operating and finance leases assets
Finance lease right of use assets	$ 10,008	$ 8,614
Total operating and finance leases assets	$ 13,385	$ 10,430
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of long-term debt	Current portion of long-term debt
Operating leases liability current	$ 625	$ 621
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of long-term debt	Current portion of long-term debt
Finance leases liability current	$ 1,009	$ 1,380
Total current liabilities	$ 1,634	$ 2,001
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Operating leases liability non current	$ 2,191	$ 665
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Finance leases liability non current	$ 642	$ 235
Total noncurrent liabilities	2,833	900
Total liabilities	$ 4,467	$ 2,901

SCHEDULE OF WEIGHTED AVERAGE DI

SCHEDULE OF WEIGHTED AVERAGE DISCOUNT RATES OF LEASES (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating leases weighted average discount	5%	5%
Finance leases weighted average discount	7%	6.10%

SCHEDULE OF WEIGHTED AVERAGE RE

SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating leases weighted average remaining term	6 years 6 months	6 years 4 months 24 days
Finance leases weighted average remaining term	1 year 4 months 24 days	9 months 18 days

SCHEDULE OF LEASE EXPENSE (Deta

SCHEDULE OF LEASE EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases
Operating lease cost	$ 581	$ 987	$ 707
Amortization of right-of-use assets	478	470	466
Interest on lease liabilities	156	190	446
Total lease cost	$ 1,215	$ 1,647	$ 1,619

SCHEDULE OF FUTURE OF LEASE LIA

SCHEDULE OF FUTURE OF LEASE LIABILITIES (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Operating Leases, 2024	$ 728
Operating Leases, 2025	601
Operating Leases, 2026	570
Operating Leases, 2027	542
Operating Leases, 2028	127
Operating Leases, Thereafter	1,120
Operating Leases, Total lease payments	3,688
Operating Leases, Less: Interest	(872)
Operating Leases, Present value of lease liabilities	2,816
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Finance Leases, 2024	1,112
Finance Leases, 2025	461
Finance Leases, 2026	98
Finance Leases, 2027	68
Finance Leases, 2028	27
Finance Leases, Thereafter	1
Finance Leases, Total lease payments	1,767
Finance Leases, Less: Interest	(116)
Finance Leases, Present value of lease liabilities	$ 1,651

SCHEDULE OF OTHER INFORMATION R

SCHEDULE OF OTHER INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases
Operating cash flows used for operating leases	$ 581	$ 987	$ 707
Operating cash flows for finance leases	478	470	466
Financing cash flows for finance leases	$ 156	$ 190	$ 446

SCHEDULE OF ACCOUNT RECEIVABLES

SCHEDULE OF ACCOUNT RECEIVABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Credit Loss [Abstract]
Accounts receivable	$ 49,695	$ 44,925
Allowance for credit losses	(14,979)	(14,067)
Total	$ 34,716	$ 30,858

SCHEDULE OF CHANGES IN ALLOWANC

SCHEDULE OF CHANGES IN ALLOWANCES FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Credit Loss [Abstract]
Allowance for accounts receivable, beginning balance	$ (14,067)	$ (15,737)
Current period provision for expected credit losses	(87)	(150)	$ (2,794)
Foreign currency exchange adjustments	(825)	1,820
Allowance for accounts receivable, ending balance	$ (14,979)	$ (14,067)	$ (15,737)

SCHEDULE OF PREPAID EXPENSE AND

SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expenses And Other Current Assets
Value-added tax receivable	$ 1,547	$ 602
Prepaid income taxes	1,000	1,763
Advances to suppliers	3,696	4,000
Prepaid expenses	643	1,445
Insurance recoveries	4,984	4,708
Other current assets	3,784	3,827
Total	$ 15,654	$ 16,345

SCHEDULE OF INVENTORIES (Detail

SCHEDULE OF INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Merchandise	$ 874	$ 825
Raw materials and consumable supplies	22,821	21,537
Finished Goods	4,683	4,856
Total	$ 28,378	$ 27,218

INVENTORIES (Details Narrative)

INVENTORIES (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory reserves	$ 0	$ 0

SCHEDULE OF PROPERTY, PLANT AND

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Land	$ 25,389	$ 23,988
Buildings	63,200	55,542
Machinery and equipment	63,284	51,374
Assets in progress	10,354	8,458
Others	9,393	8,679
Total	171,620	148,041
Less accumulated depreciation	(54,700)	(47,514)
Total	$ 116,920	$ 100,527

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 4,763	$ 4,993	$ 3,926

SCHEDULE OF GOODWILL (Details)

SCHEDULE OF GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Indefinite-Lived Intangible Assets [Line Items]
Balance at December 31, 2022	$ 45,898	$ 51,571
Foreign currency exchange adjustments	2,590	(5,673)
Balance at December 31, 2023	48,488	45,898
Soft Wheat [Member]
Indefinite-Lived Intangible Assets [Line Items]
Balance at December 31, 2022	31,410	35,194
Foreign currency exchange adjustments	1,741	(3,784)
Balance at December 31, 2023	33,151	31,410
Durum Wheat [Member]
Indefinite-Lived Intangible Assets [Line Items]
Balance at December 31, 2022	6,507	7,355
Foreign currency exchange adjustments	381	(848)
Balance at December 31, 2023	6,888	6,507
Couscous and Pasta [Member]
Indefinite-Lived Intangible Assets [Line Items]
Balance at December 31, 2022	7,981	9,022
Foreign currency exchange adjustments	468	(1,041)
Balance at December 31, 2023	$ 8,449	$ 7,981

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Beginning balance	$ 3,723	$ 3,975
Acquisitions	987	262
Amortization	(260)	(143)	$ (111)
Foreign currency exchange adjustments	198	(371)
Ending balance	4,648	3,723	3,975
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	927	1,011
Acquisitions
Amortization
Foreign currency exchange adjustments	40	(84)
Ending balance	967	927	1,011
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	1,796	2,041
Acquisitions
Amortization	(92)	(90)
Foreign currency exchange adjustments	71	(155)
Ending balance	1,775	1,796	2,041
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Beginning balance	1,000	923
Acquisitions	987	262
Amortization	(168)	(53)
Foreign currency exchange adjustments	87	(132)
Ending balance	$ 1,906	$ 1,000	$ 923

SCHEDULE OF FUTURE INTANGIBLE A

SCHEDULE OF FUTURE INTANGIBLE AMORTIZATION (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 469
2025	469
2026	469
2027	371
2028	273
Thereafter	1,630
Total amortization	$ 3,681

SCHEDULE OF ACCRUED EXPENSES (D

SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Consideration payable to selling stockholder	$ 8,840	$ 8,200
Accrued government taxes	5,580	5,517
Accrued interest	2,047	3,781
Accrued salaries and benefits	657	600
Accruals to social agencies	669	664
Other accrued expenses	322	212
Total	$ 18,115	$ 18,974

SCHEDULE OF LONG TERM DEBT (Det

SCHEDULE OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total outstanding debt	$ 22,312	$ 15,245
Less current portion	(10,471)	(5,417)
Total long-term debt	11,841	9,828
Long Term Loans [Member]
Debt Instrument [Line Items]
Total outstanding debt	17,845	12,344
Long Term Leases [Member]
Debt Instrument [Line Items]
Total outstanding debt	$ 4,467	$ 2,901

LINES OF CREDIT (Details Narrat

LINES OF CREDIT (Details Narrative) $ in Thousands	Dec. 31, 2023 USD ($)
Unsecured Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit	$ 50,000
Unsecured Revolving Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	5.60%
Unsecured Revolving Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	7.50%
Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit	$ 142,000
Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	1.40%
Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	7.50%

SCHEDULE OF MATURITIES OF OUTST

SCHEDULE OF MATURITIES OF OUTSTANDING DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 10,471
2025	3,591
2026	2,820
2027	2,204
2028	743
Thereafter	2,483
Total outstanding debt	$ 22,312	$ 15,245

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long term debt	$ 22,312	$ 15,245
Long Term Leases [Member]
Debt Instrument [Line Items]
Long term debt	4,467	$ 2,901
Minimum [Member]
Debt Instrument [Line Items]
Unsecure long term debt	$ 14
Long term debt rate	5.50%
Maximum [Member]
Debt Instrument [Line Items]
Unsecure long term debt	$ 104
Long term debt rate	5.90%

FOREIGN CURRENCY FORWARD CONT_2

FOREIGN CURRENCY FORWARD CONTRACTS (Details Narrative) € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)
Foreign Currency Forward Contracts
Notional value	$ 14,100	$ 36,400	€ 40,200
contract expiration date	Dec. 31, 2024
Foreign currency contract asset	$ 430
Foreign currency contract liability	337
Foreign currency exchange	$ 91

SCHEDULE OF FAIR VALUE MEASUREM

SCHEDULE OF FAIR VALUE MEASUREMENT OF CONTINGENT CONSIDERATION LIABILITY (Details) - USD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Contingent Consideration Liability
Contingent consideration liability	$ 1,308	$ 1,260
Contingent consideration liability change in fair value	(48)	66
Contingent consideration liability	$ 1,260	$ 1,326

CONTINGENT CONSIDERATION LIAB_3

CONTINGENT CONSIDERATION LIABILITY (Details Narrative) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 08, 2022 USD ($)
Platform Operator, Crypto-Asset [Line Items]
Contingent consideration liability	$ 1,326	$ 1,260	$ 1,308
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member]
Platform Operator, Crypto-Asset [Line Items]
Discount rate	4.49
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member]
Platform Operator, Crypto-Asset [Line Items]
Discount rate	5.47
Fair Value, Inputs, Level 3 [Member] | Measurement Input Weighted Average [Member]
Platform Operator, Crypto-Asset [Line Items]
Discount rate	4.94

SCHEDULE OF COMPONENTS OF PROVI

SCHEDULE OF COMPONENTS OF PROVISION FOR INCOME TAX (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current	$ 1,987	$ 2,228	$ 2,104
Deferred	(2,093)	(4,286)	(2,193)
Total income tax expense	$ (106)	$ (2,058)	$ (89)

SCHEDULE OF RECONCILIATION OF I

SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net loss	$ (12,508)	$ (19,170)	$ (7,784)
Income tax expense for the period	(106)	(2,058)	(89)
Income (loss) before tax	$ (12,614)	$ (21,228)	$ (7,873)
Effective tax rate	1%	10%	1%
Permanent differences not deductible (taxable) for tax purposes	$ 3,942	$ (1,799)	$ (971)
Unrecognized tax losses	695	6,322	3,323
Change in the valuation allowance	(2,221)
Recalculated tax expense	$ (2,523)	$ (6,581)	$ (2,441)
Statutory tax rate in Morocco	20%	31%	31%

SCHEDULE OF DEFERRED INCOME TAX

SCHEDULE OF DEFERRED INCOME TAX ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Fixed assets and intangible assets	$ (10,810)	$ (10,292)
Loss carryforward	7,446	12,021
Leases	(2,344)	(2,078)
Others	(102)	(29)
Less: valuation allowance	(5,172)	(12,021)
Deferred tax liabilities, net	$ (10,982)	$ (12,399)

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) $ in Thousands, د.م. in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 MAD (د.م.)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective tax rate	1%	1%	10%	1%
Net taxable income	$ (12,676)		$ (19,128)	$ (7,982)
Operating loss carry forwards	37,228		48,684
Deferred tax assets, operating loss carryforwards, subject to expiration	$ 23,546		36,663
Operating loss carryforwards, limitations on use	to expire within four years	to expire within four years
Decrease in income tax expense	$ 2,221
Valuation allowance	$ 5,172		$ 12,021
MOROCCO
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective income tax rate	20%	20%
MALI
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective income tax rate	30%	30%
BURKINA FASO
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective income tax rate	27.50%	27.50%
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective income tax rate	20%	20%
Net taxable income | د.م.		د.م. 100
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective income tax rate	35%	35%
Net taxable income | د.م.		د.م. 100

SCHEDULE OF BUSINESS COMBINATIO

SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 26, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 07, 2021	Jul. 30, 2021	Apr. 30, 2021
Business Acquisition [Line Items]
Goodwill	$ 48,488		$ 45,898	$ 51,571
Societe Industrielle De Minoterie Du Sud [Member]
Business Acquisition [Line Items]
Property, plant and equipment		$ 8,788
Intangible assets		686
Right-of-use assets		331
Inventories		59
Accounts receivable		28
Cash		7
Other liabilities, noncurrent		(2,328)
Accounts payable		(1,503)
Other payables		(693)
Total net assets acquired		$ 5,374
Sanabil SA [Member]
Business Acquisition [Line Items]
Assumed debt					$ 6,548
Noncontrolling interest					221
Total consideration paid					7,101
Current assets					4,665
Current liabilities					(4,416)
Property, plant and equipment					5,413
Tradename					323
Customer relationship					453
Cash					332
Total net assets acquired					6,438
Goodwill					$ 663
MDS Burkina [Member]
Business Acquisition [Line Items]
Assumed debt						$ 7,348
Noncontrolling interest						1,714
Total consideration paid						15,215
Current assets						4,559
Current liabilities						(1,144)
Property, plant and equipment						9,970
Cash						6,153
Total net assets acquired						13,385
Goodwill						$ 1,830
MDS Mali [Member]
Business Acquisition [Line Items]
Assumed debt							$ 9,723
Noncontrolling interest							4,037
Total consideration paid							23,339
Current assets							16,715
Current liabilities							(7,293)
Property, plant and equipment							8,289
Tradename							734
Customer relationship							1,760
Other intangible assets							20
Cash							9,579
Total net assets acquired							20,225
Goodwill							$ 3,114

SCHEDULE OF FUTURE RESULTS OF O

SCHEDULE OF FUTURE RESULTS OF OPERATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Combination and Asset Acquisition [Abstract]
Revenues	$ 39,896	$ 33,195
Net loss	$ (444)	$ (1,542)

VARIABLE INTEREST ENTITIES AN_3

VARIABLE INTEREST ENTITIES AND ACQUISITIONS (Details Narrative) - USD ($) $ in Thousands			12 Months Ended
	Oct. 07, 2021	Apr. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 26, 2023	Jul. 30, 2021
Business Acquisition [Line Items]
Noncontrolling interest			$ 6,411	$ 6,902
Acquisition price			$ 37		$ 8,639
Societe Industrielle De Minoterie Du Sud [Member]
Business Acquisition [Line Items]
Acquisition percentage						90%
Noncontrolling interest						$ 56
Outstanding debt						$ 5,318
Sanabil SA [Member]
Business Acquisition [Line Items]
Acquisition percentage	60%		80%
Acquisition price	$ 332
Average life	20 years
MDS Burkina [Member]
Business Acquisition [Line Items]
Acquisition percentage							78.21%
Acquisition price				6,153
MDS Mali [Member]
Business Acquisition [Line Items]
Acquisition percentage		70.35%
Acquisition price				$ 9,579
Average life		20 years

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 09, 2022
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value per share	$ 0.001	$ 0.001
Ordinary shares, authorized	100,000,000
Ordinary shares, par value	$ 0.001
Ordinary shares, issued	26,879,202
Ordinary shares, outstanding	26,879,202
Price per share	$ 16.50
Price per share			$ 0.001
Business combination agreement [Member]
Class of Stock [Line Items]
Earnout shares issued	0
2022 [Member] | Business combination agreement [Member]
Class of Stock [Line Items]
Earnout shares	500,000
Earnout value	$ 27
2023 [Member] | Business combination agreement [Member]
Class of Stock [Line Items]
Earnout shares	500,000
Earnout value	$ 33
2024 [Member] | Business combination agreement [Member]
Class of Stock [Line Items]
Earnout shares	1,000,000
Price per share	$ 16.50
Public Warrants [Member]
Class of Stock [Line Items]
Private warrants outstanding	11,461,120	11,461,220
Price per share	$ 11.50	$ 11.50
Price per warrant	$ 0.01	$ 0.01
Private Warrants [Member]
Class of Stock [Line Items]
Private warrants outstanding	4,289,722	4,289,722
Price per share	$ 11.50	$ 11.50
Class Z Ordinary Shares [Member]
Class of Stock [Line Items]
Ordinary shares, authorized	30,000,000	30,000,000
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, issued		29,999,990
Ordinary shares, outstanding		29,999,990

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, beginning balance
Weighted average exrecise price, beginning balance
Weighted average remaining contractual term (years), outstanding	9 years 4 months 17 days
Aggregate intrinsic value, beginning balance
Stock options, granted	64,705
Weighted average exrecise price, granted	$ 0.001
Weighted average remaining contractual term (years), granted	9 years 4 months 17 days
Aggregate intrinsic value, granted	$ 685
Stock options, exercised
Weighted average exrecise price, exercised
Stock options, forfeited/expired
Weighted average exrecise price, forfeited/expired
Stock options, ending balance	64,705
Weighted average exrecise price, ending balance	$ 0.001
Aggregate intrinsic value, ending balance	$ 685
Stock options, exercisable
Weighted average exrecise price, exercisable
Weighted average remaining contractual term (years), exercisable
Aggregate intrinsic value, exercisable
Phantom Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, beginning balance
Weighted average exrecise price, beginning balance
Weighted average remaining contractual term (years), outstanding	9 years 4 months 20 days
Aggregate intrinsic value, beginning balance
Stock options, granted	53,613
Weighted average exrecise price, granted	$ 0.001
Weighted average remaining contractual term (years), granted	9 years 4 months 20 days
Aggregate intrinsic value, granted	$ 568
Stock options, exercised
Weighted average exrecise price, exercised
Stock options, forfeited/expired
Weighted average exrecise price, forfeited/expired
Stock options, ending balance	53,613
Weighted average exrecise price, ending balance	$ 0.001
Aggregate intrinsic value, ending balance	$ 568
Stock options, exercisable
Weighted average exrecise price, exercisable
Weighted average remaining contractual term (years), exercisable
Aggregate intrinsic value, exercisable

SCHEDULE OF STOCK OPTIONS VALUA

SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS (Details)	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected Term	5 years
Volatility	62.39%
Expected dividend rate	0%
Annual risk free rate	3.52%
Phantom Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected Term	5 years
Volatility	60.31%
Expected dividend rate	0%
Annual risk free rate	3.84%

EQUITY INCENTIVE PLAN (Details

EQUITY INCENTIVE PLAN (Details Narrative) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum number of shares reserved and available for issuance | shares	2,645,684
Weighted average grant date fair value | $ / shares	$ 10.99
Unrecognized compensation expense	$ 542
Recognized compensation months	24 months
Phantom Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value | $ / shares	$ 10.59
Unrecognized compensation expense	$ 433
Recognized compensation months	24 months
Other liabilities	$ 135

EARNINGS PER SHARE (Details Nar

EARNINGS PER SHARE (Details Narrative) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Weighted average number of shares outstanding, earnings per share	26,879,159	26,604,710	20,555,595

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase of grains	$ 147,284,000	$ 207,188,000	$ 141,565,000
Mortgages to banks	$ 25,464

SCHEDULE OF COMPANY REPORTABLE

SCHEDULE OF COMPANY REPORTABLE SEGMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total	$ 305,476	$ 289,772	$ 261,679
Operating income (loss)	1,133	(1,422)	3,386
Soft Wheat [Member]
Segment Reporting Information [Line Items]
Total	218,761	213,775	173,085
Operating income (loss)	2,288	8,957	1,233
Durum Wheat [Member]
Segment Reporting Information [Line Items]
Total	51,755	44,447	53,546
Operating income (loss)	327	(4,508)	600
Couscous and Pasta [Member]
Segment Reporting Information [Line Items]
Total	31,410	27,159	28,819
Operating income (loss)	1,666	(1,924)	1,734
All Other [Member]
Segment Reporting Information [Line Items]
Total	3,550	4,391	6,229
Operating income (loss)	$ (3,148)	$ (3,947)	$ (181)

SCHEDULE OF LONG-LIVED ASSETS N

SCHEDULE OF LONG-LIVED ASSETS NET PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 116,920	$ 100,527
MOROCCO
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	96,149	79,125
BURKINA FASO
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	8,913	8,793
MALI
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	6,991	6,732
ANGOLA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	4,396	5,391
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 471	$ 486

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] - Customer [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10.90%	10.90%
MOROCCO
Revenue, Major Customer [Line Items]
Concentration risk, percentage	12.70%	12.70%
MALI
Revenue, Major Customer [Line Items]
Concentration risk, percentage	8.50%	8.50%
BURKINA FASO
Revenue, Major Customer [Line Items]
Concentration risk, percentage	2.20%	2.20%
Other [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	2%	2%

RELATED PARTIES (Details Narrat

RELATED PARTIES (Details Narrative) - USD ($) $ in Thousands		12 Months Ended
	Jun. 08, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2015
Related Party Transaction [Line Items]
Rent expense		$ 420
Purchase of grains		147,284	$ 207,188	$ 141,565
Total outstanding consideration payable		8,840	8,200
Lighthouse Capital Limited [Member]
Related Party Transaction [Line Items]
Consideration paid for business combination			8,000
Interest accruing rate	8%
Total outstanding consideration payable		8,840	8,200
Related Party [Member]
Related Party Transaction [Line Items]
Other receivables		1,358	2,366
Loan from related party		$ 1,486	$ 1,801
Forafic Maroc [Member]
Related Party Transaction [Line Items]
Ownership percent					100%