Food trade balance shows surplus of TND 496 million at end of January 2024 (ONAGRI)

The food trade balance recorded a surplus of TND 496 million in January 2024, compared to a deficit of TND 151 in 2023, recording a coverage rate of 202.8% compared to 79.2% in January 2023, according to data published by the National Observatory of Agriculture Thursday. This improvement is explained by the 70.5% increase in food exports, mainly due to higher olive oil exports (+125%) and fishery products (+108.5%). Imports, on the other hand, fell by 33.4%, mainly due to lower imports of grain (-42.5%), vegetable oils (-58.0%) and sugar (-77.2%). The recovery of the food trade balance was also driven by the rise in the average price of olive oil (+78.9% to 27.04 DT/kg) and falling import prices of grain products. Durum wheat prices fell by 16.8%, common wheat by 27.8%, barley by 34.5% and maize by 24.4%. In the first month of 2024, food imports accounted for 8.5% of the country's total imports, while food exports accounted for 19% of overall exports. Source: Agence Tunis Afrique Presse