The food trade balance recorded a surplus of TND 1,581 million at end May 2024, compared to a deficit of TND 485.9 million in the same month of the previous year, according to the National Agricultural Observatory (ONAGRI).
Food exports picked up by 57.3% in value terms, while imports fell by 12.2%. The coverage rate reached 153.4% in May 2024, compared to 85.6% in the same month of 2023.
The recorded surplus is mainly the result of the increase in exports of olive oil (+102.4%), fishery products (+36.9%) and dates (+21.9%) and the decrease in imports of sugar (-54.3%), grain (-14%) and vegetable oils (-3.7%).
The average export price of olive oil (TND 27.17 /kg) rose by 74.2% compared to the previous year, while the import prices of grain products fell by between 15% and 29%.
Export prices increased by 74.2% for olive oil, 27.5% for citrus fruits, 22.5% for fishery products and 4.6% for dates, while tomatoes’ decreased by 0.2% compared to the same period of the previous year.
Grain import prices fell by 14.7% for durum wheat, 21.2% for soft wheat, 29.2% for barley and 24.9% for maize.
The same is true for vegetable oils (-21.8%) and milk and its derivatives (-6.4%), while sugar increased by 25.5%.
ONAGRI recalled that the overall trade balance deficit reached TND 6,413 million at the end of May 2024, compared to TND -8,100.7 million at the end of May 2023, down 18.4%.
The surplus in the food trade balance contributed to reducing the overall trade balance deficit from 6% to -24.7% compared to the same period last year, it stressed.
Total imports decreased from TND 34,004.4 million at the end of May 2023 to TND 33,162.9 million, at the end of May 2024, a decrease of 2.5%.
Food imports accounted for 8.9% of total imports.
Total exports increased by 3.3% from TND 25,903.7 million to TND 26,750 million.
Food exports accounted for 17.0% of total exports.
