Tunisian olive oil exports should contribute around 4.25 percent to the country's state budget at an estimated TND47 billion (USD16.7 billion), President of the Tunisian National Oil Office (ONH) Chokri Bayoudh said.
For the current season, the exports would generate revenues of more than two billion dinars (about USD714 million) after exporting around 340,000 tons of products.
In his statement to Tunisian news agency (TAP), Bayoudh said that a record revenue would be achieved this season compared to the previous one. At the end of July, Tunisian olive oil exports reached nearly 294,000 tons at a minimum value of TND1.762 billion (USD629 million approximately).
Despite the coronavirus pandemic, the demand on Tunisian olive oil was never influenced and “we were able to export an average of 45,000 tons per month," Bayoudh said.
Eighty percent of olive oil exports go to the EU and 15 percent to the US and Canada. Tunisia also increased its presence in the US and Canadian markets, which are registering annual growth of 5-8 percent, respectively, Bayoudh added.
By the end of November’s season, an estimate of 340,000 tons of exports with a revenue that exceeds TND2 billion will be registered.
Tunisia demands an increase in its annual share of exports exempted from customs tariffs to the EU from 56,700 tons to 100,000 tons.
Next season’s output will decline by 40 percent compared to the current season, and wouldn’t surpass 150,000 tons.
