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.
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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.
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