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In February 2024, the EU agri-food trade surplus reached €6.2 billion, representing an increase of 24% compared with January.
EU agri-food exports in February 2024 increased by 5% compared with January and reached €19.4 billion. The EU exported higher volumes of cereals that month. The UK is still the first destination for EU exports with higher volumes pig meat being exported. The second destination is the United States with EU total exports there increasing by 9% compared with the same month last year. Similarly, EU exports to Japan grew by 11%. While remaining at a high level, EU agri-food exports to China and Russia decreased. Exports decreased the most in direction of China (-EUR 335 million, -13%), mainly due to reduced export volumes and prices of cereal preparations and pigmeat.
The value of EU agri-food imports reached €13.2 billion in February, a slight decrease of 2% compared to the previous month. This is mainly caused by reduced prices across many product categories but the situation remains contrasted. While prices of cereals, oilseeds, and protein crops decreased, they increased for other products. Imports from Argentina, Australia, Canada, Indonesia and Ukraine decreased due to lower imported volumes and prices for certain goods. On the other hand, imports from Côte d’Ivoire, Egypt, Morocco, Tunisia and Türkiye went up.
May 24, 2024/ European Commission/ European Union.
https://agriculture.ec.europa.eu
