EU agri-food exports recover in March

Published Jun 25, 2021

Tridge summary

The article provides an overview of the European Union's (EU) agri-food trade performance in the first quarter of 2021, revealing a slight decrease in both exports and imports compared to the previous year. Despite a decline in exports to the UK and several key markets like Egypt, Japan, Russia, and Saudi Arabia, the EU witnessed a notable increase in exports to the United States and a substantial surge in exports to China, driven by pork, coarse grains, and oil exports. The quarter also saw a downturn in imports of tropical fruits, nuts, spices, and oil, but a rise in imports of oilcakes, soybeans, and roasted coffee and tea. The EU's agri-food trade value for the quarter reached 75.8 billion euros, with a notable shift in import-export dynamics, including significant increases in exports of pig meat, rapeseed and sunflower oils, wine, leather, and cut flowers, and increases in imports of oilcakes, soybeans, and roasted coffee and tea.

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

Original content

EU exports decreased 0.9% between January and March compared to the corresponding period in 2020, reaching 46.4 billion euros while imports reached 29.3 billion euros, 8.1% less than in the first quarter of 2020. However, the value of EU exports in March 2021 increased by 20% compared to the previous month. Similarly, EU imports increased in value by 24% in March compared to February. Thus, the EU agri-food trade between January and March 2021 reached a value of 75,800 million euros, 4% less than in the same period of 2020. Specifically, from January to March 2021, EU export values fell further to the UK (€ 1,079 million less), compared to the same period in 2020. Significant decreases in the value of EU exports the EU affected most agri-food products. They lead the pig meat (a decrease of 116 million euros), cigars and cigarettes (a decrease of 108 million euros) and meat preparations (a decrease of 101 million euros). However, monthly EU exports have progressively increased ...

Source: Financialfood