São Paulo – Tunisia posted a food trade balance surplus of DT 24.4 million (USD 8.6 million) in the first two months of 2020. According to statistics by the Ministry of Agriculture, Water Resources and Fisheries published on Agence Tunis Afrique Presse (TAP), the surplus is explained by a 2.3% drop in the value of food imports driven by the decline in international prices of some foodstuffs.
The Food Price Index compiled by the Food and Agriculture Organization (FAO) of the United Nations slid by 1% month-on-month in February after climbing for four months running, as an early result of the coronavirus impact on demand, as per figures made public by FAO earlier this month. The index is a measure of the change in prices of a basket of food commodities, such as meat, dairy and sugar.
A year ago, Tunisia posted a DT 91.3 million (USD 32.2 million) food trade balance deficit. The improvement is also explained by a 16.3% increase in exports.
Tunisia spent DT 953.4 million (USD 336.7 million) with imports in the first two months of the current year. The value of imports of some food products – such as barley (-25%) and milk and by-products (-2%) – dropped, thanks to the decline in prices. Some exports – such as wheat, vegetable oils, potatoes – were imported in bigger quantities but lower prices.
The country increased its exports due to the performance of products such as olive oil, whose exports were up by 29% in value and 96% in quantities in the first two months of the year. An increase was also recorded in the value of sea products exports and canned fish. The exports of fresh vegetables, especially tomatoes, were also up.
Translated by Guilherme Miranda