ALGERIA RECORDS DROP IN IMPORT BILL FOR OF CEREALS IN 2016

ALGIERS, -- Algeria's bill for imports of cereals (wheat, maize and barley) fell nearly 18 per cent during the first half of 2016 compared with the same period last year despite import volumes growing by 8.7 per cent, according to the Algerian Customs authorities.

The import bill for cereals fell to 1.56 billion US dollars during the six months, against nearly 1.9 billion USD in the same period of 2015, the National Centre of Data Processing and Statistics (CNIS), reported Sunday.

However, the imported quantities increased to 7.53 million tons from 6.93 million tons previously.

Imports of wheat declined to 1.033 billion USD from 1.36 billion USD (down 24.12 per cent) while the volume of imports rose to 4.61 million tons from 4.38 million tons previously.

Maize imports amounted to 2.3 million tons (2.13 million rons in 2015) valued at 416.9 million USD (437.7 million USD in 2015).

However, the import bill for barley rose to 111.55 million USD (99.44 million USD in 2015) as the volume of imports rose by 50.64 per cent to 620,734 tons from just 412,067 tons previously.

The decline in the import bill for cereal despite higher imported quantities is because of the ongoing decline in world grain markets, observed since 2015, thanks to abundant stocks and good harvests.

Source: Name News Network