The value of approved private investments in agriculture in Q1 of 2023 fell 20.9% in comparison with the same period last year to TND 123.6 million, the Agricultural Investment Promotion Agency (French: APIA) Thursday said in a statistical bulletin.
The value of these investments shrank 25.9% in comparison with the 2016/2020 development plan. They will help generate 703 permanent jobs against 811 during the same period in 2022.
These approved private investments are shared out as follows: TND 70.8 million for agriculture, TND 21.1 million for fisheries, TND 15.1 million for agricultural services, TND 15.8 million for first processing and 0.8 MD for aquaculture.
Investments in arboriculture amounted to TND 46 million, that is 65% of the total volume of investments in the agricultural sector.
Poultry farming saw investments edge down to TND 28.4 million against TND 58.4 million during the same period last year.
Investments in aquaculture grew to 17% of the total volume against 6% in 2022.
One investment operation of TND 0.8 million was reported in fish culture in floating cages. Approved investments in milk collection centers dropped to TND 2.5 million against TND 3.8 million in 2022.
Approved investments in oil mills stood at TND 7.9 million, i.e 50% of total investments in the sector of first processing.
APIA also said approved investments for youth and women posted respective drops of 33.2% and 36%. Figures show no foreign investment projects and investments for agricultural development companies were reported.
Subsidies amounting to TND 34 million were earmarked for approved investments, that is 27.5% of the volume of investments against TND 39.5 million during the same period in 2022.
Subsidies for the acquisition of agricultural equipment totaled TND 12.5 million, i.e. 36.8% of approved subsidies.
Approved investments for solar energy equipment reached TND 4.1 million with a premium volume of TND 1.7 million. The regional development premium rose 25% in comparison with Q1 of 2022.
The credit rate dropped from 18.9% to 16.4%. Five land loans were approved with a total value of TND 0.8 million against 9 (TND 1.2 million) during the same period last year. These loans will help ease the integration of 72 hectares of land in the economic circuit against 86 hectares by late March 2022.