The EU agri-food exports maintain their good growth rate in March

Published 2024년 6월 25일

Tridge summary

In March 2024, the European Union's agri-food trade surplus reached €6.7 billion, an 8% increase from the previous month and a 3% increase from March 2023. This was driven by a 4% increase in exports to €20.1 billion, despite stable imports at €13.5 billion. The UK was the main destination for EU exports, with the US and China rounding out the top three. Olive oil and other agricultural products saw significant price-driven increases in exports, while imports of certain products like coffee, tea, cocoa, and spices also increased. However, imports of oilseeds, cereals, sugar, and isoglucose saw decreases due to lower prices and volumes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In March 2024, the EU agri-food trade surplus reached €6.7 billion, an increase of 8% compared to the previous month and 3% more than in March 2023. Exports increased by 4% to €20.1 billion of euros, mainly due to the increase in the prices of olives and olive oil, while imports remained stable, reaching 13.5 billion euros, but 10% less than in March 2023, according to the latest monthly report on agri-food trade published by the European Commission. The United Kingdom remained the main destination for EU agri-food exports, accounting for 22% of the value of EU exports. In the first quarter of 2024, the United States saw the largest increase in EU exports, with an increase of 6% (372 million euros), while China, despite a 12% reduction in value, remained the third destination. Among other significant developments, EU exports increased to Iraq and Lebanon, while Russia and Egypt experienced decreases. In terms of exported products, EU exports of olives and olive oil experienced the ...

Source: Financialfood