News

Decrease in the value of European pork exports

Grains, Cereal & Legumes
Portugal
Market & Price Trends
Published Nov 29, 2023

Tridge summary

The EU's agri-food trade surplus in August 2023 decreased by 8% compared to the previous month but remained at a similar level to August 2022. The total trade balance from January to August 2023 increased by EUR 7.5 billion compared to the same period in 2022. Agri-food exports in August 2023 were stable at €18.2 billion, with a significant reduction in the value of cereal exports due to lower prices, while pork exports also decreased. Agri-food imports increased by 5% in August but were still lower compared to August 2022, with increased import volumes for cereals but decreased volumes for oilseeds, protein crops, and vegetable oils.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

EU agri-food exports remained stable at €18.2 billion in August 2023, 10% below their level in the previous year (August 2022). Cereals were responsible for the largest reduction in export value compared to 2022 (-EUR 1.7 billion, -14%). This situation is mainly explained by a reduction in prices, especially for wheat (the unit value decreased by 21%), while volumes remained stable. The value of exports also decreased for pork (-701 million euros, -8%), as export volumes decreased by 18%. EU agri-food imports increased by 5% in August to €12.5 billion. This value is still 15% lower than that recorded in August 2022. Accumulated imports from January to August 2023 reached 107.4 billion euros. Cereal imports represent the biggest increase between January and August 2023 compared to 2022, with an increase of 1.2 billion euros, mainly in wheat. This fact is explained by an increase in import volumes of 28% compared to 2022. ...
Source: 3tres3
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