What is the difference between these two aspects? In short, tracking concerns the process that keeps track of the elements that create, modify, and transform both alimentary and other types (industrial, chemical) of products, While tracing consists of the process that allows you to go back through the product chain, to look for a specific event, such as a particular phase of product processing.
Alfacod.it provides an interesting detailed analysis of these two aspects, focusing specifically on the food example.