Connect with us

Agriculture

EU agri-food trade surplus increases in September 2024

SHARE:

Published

1 year ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

The latest agri-food trade report published by the European Commission showed that the EU agri-food trade surplus increased by 15% in September 2024, reaching €6 billion. This marks a significant increase from the previous month. The EU surplus reached €50.6 billion between January and September 2024, remaining stable compared to the same period in 2023.

EU exports reached €19.6bn in September 2024, an increase of 5% on the previous month and 3% higher than in September 2023. Since January, cumulative EU exports reached €175.5bn, 2% higher than on the same period in 2023. The value of EU exports of olives and olive oil increased significantly, by €2bn (54%), due to increased prices. Similarly, EU exports of cocoa products also increased driven by higher prices. By contrast, EU cereals exports had the largest reduction in value, with a decrease of €1.7bn in value (‑15%), explained by a reduction of world prices. Exported volumes remain high with 1.6 million tonnes of additional wheat exported compared with September last year.

EU imports remained stable month-on-month in September and reached €13.6bn. Cumulative imports between January and September reached €124.9bn, 4% higher compared to 2023. The value of cocoa imports increased significantly compared to 2023, as world prices kept increasing. Imports of fruit and nuts also grew by €1.4bn (+8%), mainly due to increased prices. Conversely, imports of oilseeds and cereals decreased, mainly due to reduced prices. Imports from Côte d'Ivoire had the largest increase between January and September compared to 2023 (+EUR 1.7bn, +57%), driven by the increase of cocoa prices. Imports from Nigeria also increased significantly, by 150% (+€761 million) for the same reason.

More insights as well as detailed tables are available online.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending