EU publishes short-term agriculture outlook

Published 2020년 7월 14일

Tridge summary

The European Commission's short-term outlook for EU agricultural markets, released on July 6, 2020, highlights the resilience of the food supply chain during the coronavirus crisis. It anticipates a gradual recovery in demand for restaurants, bars, and cafés, leading to increased prices. The COVID-19 outbreak has resulted in a demand shock rather than a supply one, as seen in the positive production prospects for various sectors. The report also indicates a decrease in EU cereal production for 2020/21, but a expected increase in sunflower, soya beans, and protein crops production. Sugar production is expected to remain stable, while olive oil production is set to increase. The fruit and vegetable sector faces challenges such as high apple prices, a record low production of peaches and nectarines due to adverse weather conditions, and a slight decline in fresh tomato consumption.

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

Original content

Many uncertainties remain around the scale of the impact of the coronavirus crisis and the economic recovery. Nonetheless the food supply chain has proven resilient throughout the crisis. With lockdown measures being progressively lifted all over Europe, demand in particular for restaurants, bars and cafés should pick up, although not back to 2019 levels in the short run due to reduced households’ purchasing power. Prices are also picking up as a consequence. As noted in the spring edition of this short-term outlook, the COVID-19 outbreak and related measures taken by Member States created a demand shock rather than a supply one. This is reflected in the good production prospects for various sectors such as dairy, sugar, pigmeat, olive oil, wine and tomato. Exports perspectives remain good overall. The latest short-term outlook report for EU agricultural markets, published on 6 July 2020 by the European Commission, presents a more detailed overview of the latest trends and further ...

Source: Agropages