Tunisia-Tunisia expects olive oil output to drop this year by 65 percent

Tunisia expects olive oil output will drop by around 65 percent this year, the agriculture ministry said on Friday, harming Tunisia’s exports, as its public finances are in a critical situation.

Tunisia is among the world’s top exporters of olive oil, a commodity that has seen growing interest from both consumers and investors.

The North African country had a record harvest last year of 400,000 tons, which raised its exports from olive oil to about $850 million.

“Olive oil output is expected to fall by 65 percent this year”, TAP state news agency quoted Agriculture Ministry official Chokri Bayoudh as saying.

Tunisia’s government is forecasting a budget deficit of about 12 percent of GDP in 2020, the highest in almost four decades.

(Reuters)