EU olive and olive oil exports grow by 59%

Published 2024년 11월 3일

Tridge summary

In July 2024, the European Union's agri-food surplus reached €6.1 billion, an 8% increase from the previous month and a stable figure from 2023. This growth is largely due to a significant increase in exports, especially in the olive oil and olives sector. The EU exported agri-food products worth €137.2 billion from January to July 2024, a 3% increase from the previous year, with the US, UK, and Brazil seeing the most significant growth in imports from the EU. Olive oil and olive exports increased by €1.7 billion, while other sectors such as cereals and vegetable oils experienced declines. Imports of olive oil and other agri-food products also increased by 2%, with Tunisia being a major supplier, and there was a notable increase in imports of coffee, tea, cocoa, and spices. The EU agri-food sector is expected to continue to show strength, despite challenges in importing certain products due to price and demand fluctuations in international markets.

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

Original content

In July 2024, the EU's agri-food surplus reached €6.1 billion, remaining at a similar level to 2023 and marking a month-on-month increase of +8%. This growth is driven by the strong increase in exports, especially in the olive oil and olives sector. Between January and July 2024, the accumulated surplus rose to €39.7 billion, an increase of €1.1 billion compared to the same period of the previous year. These are the main conclusions of the latest monthly report on agri-food trade published by the European Commission. Olive oil and olive exports in numbers During the first seven months of the year, olive oil and olive exports have seen a notable increase. In total, the EU exported agri-food products worth €137.2 billion, up 3% compared to 2023. Exports to the US were the most significant, growing by €1.5 billion, up 10%, notably thanks to higher olive oil and olive prices. The UK and Brazil also recorded significant growth in their imports from the EU, increasing by €914 million ...

Source: Oleorevista