Food balance coverage rate stands at 75.1% in H1 2021 against 95.2% in 2020

(TAP)-The food trade balance recorded in the first six months of 2021 (H1) a deficit of 806.9 MD against 137.1 MD during the same period last year; thus recording a coverage rate of 75.1% in 2021, against 95.2% in 2020, according to the National Observatory of Agriculture (ONAGRI).

In terms of value, food exports dropped by 10.2% while imports increased by 13.8%.

This is due notably to the rise in the rate of cereal imports (+20.9%) on the one hand, and the fall in olive oil exports (-26.9%) on the other, the observatory specified.

A decline in the olive oil prices was posted in June 2021 after a substantial increase recorded the previous month.

The prices of cereal products (durum wheat, soft wheat, barley and corn) were also up in June 2021 compared to previous months, according to the same source.

The export prices saw a rise of 40.0% for olive oil and 16.14% for tomatoes compared to the same period in 2020.

However, the prices of fishery products, dates and citrus fruits dropped by 17.1%, 13.1% and 6.4%, respectively.

At the end of June 2021, the imports of meat, potatoes and sugar fell sharply.

Import prices for cereals rose by 11.4% for durum wheat, 20.1% for common wheat, 23.3% for barley and 44.1% for maize. The same applies to the price of milk and by-products (+23.7%), vegetable oils (+24.7%) and sugar (+1.0%), while meat and potato prices fell by (-52.4%) and (-21.1%), respectively.

The deficit of the country’s overall trade balance at the end of June 2021 showed a rise of 14.1% with (-7,536.4 MD) in 2021 against (-6,602.9 MD) in 2020.

The total imports went from 24,795.6 MD in 2020 to 30,362.0 MD in 2021, an increase of 22.4%, against 25.5% for exports, which went from 18,192.7 MD to 2,825.6 MD, according to ONAGRI.

Source: TAP News Agency