EU releases agricultural and food product import and export data for the first half of 2024

Published 2024년 10월 12일

Tridge summary

The article provides an overview of the European Union's agricultural trade performance from January to June 2024, revealing a slight increase in cumulative exports reaching 117.5 billion euros, with a 1% growth compared to the previous year. This growth is largely attributed to a surge in exports to the United States and a significant increase in olive and olive oil exports, despite a decline in exports to China. The EU's grain exports also saw an 8% increase, contributing to global food security. On the other hand, imports remained stable at 82.7 billion euros, noting a notable increase in imports of coffee, tea, cocoa, and spices due to high prices, alongside a decrease in oilseed and protein crop imports.

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

Original content

(1) Exports. Cumulative exports from January to June reached 116.4 billion euros, a slight increase of 1.1 billion euros, or 1%, compared with 2023. EU exports to the United States grew the most, increasing by 1 billion euros, or 8%, mainly due to rising prices for olives and olive oil. Exports to China fell by 689 million euros, or 9%, mainly due to a reduction in several major EU export products to China, especially pork, dairy products and cereal products. Overall, due to higher prices compared with 2023, EU olive and olive oil exports soared by 1.4 billion euros, or 58%, while sugar and isomerized glucose exports also saw a significant increase, increasing by 435 million euros, or 146%. Against the backdrop of falling grain prices, grain exports increased by 8% compared with 2022 to 25.1 million tons. Wheat exports alone increased by 2.7 billion euros, or 1.2 billion tons. 10,000 tons. The EU continues to play a role in global food security. On the other hand, the EU's wine ...

Source: Foodmate