Food trade balance deficit widens to TNDFood trade balance deficit widens to TND 2,862.1 million by November 2022 2,862.1 million by November 2022

(TAP)-The food trade balance widens to TND 2,862.1 million by November 2022, against TND 1,952.4 million during the same period last year, according to the monthly newsletter of November 2022, published Friday by the National Observatory of Agriculture (ONAGRI).


The coverage rate reached 64.5% against 66.7% in November 2021.


The deficit is due to the increase in imports, notably of sugar, vegetable oil, durum wheat and soya beans, as well as to the war in Ukraine, which has led to commodity price shocks on the international market, according to the observatory.


In terms of value, food exports were up by 32.9%, while imports rose by 37.5%.


Exports of olive oil saw a 44.5% increase in November 2022 compared to the same period of the previous year, reaching TND 2,071 million against TND 1,434 million.


Food imports accounted for nearly 10.7% of total national imports, said the ONAGRI.


The value of grain imports stood at TND 4,120.8 million, up 34.3% compared to November 2021, the same source said.


Grain imports accounted for 51.5% of total food imports, compared to 52.3% in November 2021.


Vegetable oil imports rose by 118.1% in November 2022 to TND 1,251.6 million, up 54%.


Sugar imports grew by 45% in terms of quantity and 55.7% in terms of value.


Source: TAP News Agency

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