Africa has imported $ 65.8 billion food in 2016 – Report

The African continent spent about $ 65.8 billion on food imports in 2016, a report released by Trade Law Center for Southern Africa (TRALAC) said.
According to the report, trade data over the review period 2012-2016 reveal that on average Africa’s food trade deficit was around US$30 billion annually.
It noted that from a high of US$ 83 billion in 2012, imports have been on the decline down to US$ 65 billion in 2016 representing a 6% decline using compound annual growth rate (CAGR).
Experts quoted by the report, warned that if current predictions hold, the import bill is expected to rise to US$ 110 billion annually by 2025.
Due to population growth, rapid urbanization and changes in dietary patterns, there is fast-growing demand for agricultural products in global markets and in Africa
The report said 84% of food imports come from outside the continent and were mainly made by Egypt with 15% of the value of purchases, or $ 10 billion.
The North African nation is followed by its neighbour Algeria and South Africa, which account for 12% ($ 8 billion) and 9% ($ 5.7 billion) respectively. Morocco and Nigeria rank fourth and fifth respectively with $ 4.6 billion (7%) and $ 4.5 billion (7%).
The main suppliers to the continent are Brazil (9%), France (7%), India (6%), South Africa (5%) and the United States (5%).

Khalid Al Mouahidi Posted by on September 29, 2017. Filed under Zoom. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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