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EU agri-food trade back on an upward trend

Despite COVID-19 and uncertainties related to Brexit, EU27 agri-food trade continued to grow in the first six months of 2020, the net trade balance boosted by continued strong exports of pig meat.

Source: Comext.

Between January and June, the value of EU27 agri-food exports totalled €90.2 billion (up almost 3% compared to the same period in 2019), while the value of imports increased to €62.7 billion (a rise of nearly 2.5%). As a result, the agri-food export surplus during the period January-June 2020 stood at EUR 27.4 billion, an increase by 3% compared to the corresponding period in 2019, despite the Covid-19 crisis. This net trade balance remained boosted by continued strong exports of pig meat, wheat and coarse grains.

Export values

Exports to China grew by €2.23 billion compared to the same period last year, driven largely by sales of pig meat, whose export value increased by a record €1.74 billion (+200%) during this period. Other products with highest gains in export values to China continued to be reported for wheat, offal meat (+33%), and vegetable oils other than palm and olive oil (+144% - rapeseed/colza oil with low erucic acid).

In terms of product categories, the strongest growths in export values were recorded for wheat (€1.7 billion, +66%) and pig meat (€1.59 billion, +49%), as well as coarse grains (up by €427 million, +39%).

Import values

High imports of rapeseeds and soya beans led to a growth of €535 million in import values from Canada. There were further increases in the value of imports from Brazil (up by €496 million, boosted by soya bean imports).

The import values of several products grew, including oilseeds other than soybeans (a growth of €489 million, +27%, mainly rapeseed and sunflower seeds) and palm and palm kernel oil (€478 million, +19%). Declines, however, were recorded in the import of coarse grains (€664 million, -29%), and oilcakes (€262 million, -8%).

For the period January-June 2020, EU27 imports that decreased most in terms of value include the United Kingdom (-863, -11%); (Ukraine (-328, -10%; decline largely driven by falling imports of corn, wheat and oilcakes); the United States (-304, -6% - mainly driven by reductions in soybeans and oilcake imports); India (-241, -16% - other feed and feed ingredients, oilcakes); and Australia (-154, -16%; oilseeds, wool).