Latin America gains weight in the agri-food balance with Spain and the EU
Published Aug 18, 2020
Tridge summary
The Latin American countries have increased their agri-food exports during the pandemic and their surplus in trade with the European Union (EU). On the contrary, Spain has cut its sales to Latin American destinations.
Original content
Latin America - a world leader in agricultural exports - is a great challenge for the EU, given the reconstruction and the urgency of looking for alternative markets in the face of US tariffs. “As a consequence of the global power shifts and the conversion of Asian markets into engines of trade, the EU has lost an important market share in Latin America and the Caribbean in the last two decades, mainly in favor of China. ”, According to a report by the Research Service of the European Parliament (EP). Spain sells 3.1% of its agri-food exports in Latin America, a lower volume than that sold in Asia or North America, according to the Ministry of Agriculture, Fisheries and Food (MAPA). But Spain could find in Latin America opportunities for food with added value or with Denomination of Origin, such as wines, biscuits or oils, according to sources in the sector. An example is the pact with Mercosur, which has yet to be ratified, as it offers opportunities to the wine, spirits, dairy ...
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