Strong and stable agri-food trade in the first months of 2020

Published Jul 11, 2020

Tridge summary

The European Union's agri-food trade remained robust in the first quarter of 2020, with exports and imports value increasing by 6.2% and 2.6% respectively compared to the same period in 2019. The trade surplus reached 14.9 billion euros, a 15% increase from the previous year. There was a notable increase in EU exports to China, Saudi Arabia, Morocco, the Russian Federation, and the USA, while exports to the UK, Hong Kong, and Lebanon saw a decline. Import value from Canada increased due to rapeseed, rapeseed oil, and soy, and there was a significant increase in imports of fresh and dried tropical fruits. However, imports of oil cakes, coarse grains, raw tobacco, and wheat saw a decrease.

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

Original content

Despite the challenges brought about by the Covid-19 outbreak in the first months of 2020, the EU's agri-food trade remained strong. The value of EU agri-food exports totaled 46.8 billion euros between January and March, a 6.2% jump from the first quarter of 2019, while the value of imports rose to 31.8 billion euros, an increase 2.6%. The trade surplus of 14.9 billion euros represented an increase of 15% in relation to the previous year, as established in the monthly trade report from January to March 2020, published today by the European Commission. Extra demand for pork, offal meat, baby food and wheat has led to an increase in the value of EU exports to China, leading to an increase of 1.14 billion euros compared to January to March 2019. High exports of barley and wheat led to increases for both Saudi Arabia Arabia (increase of 312 million euros) and Morocco (growth of 240 million euros), while strong increases were also registered in exports to the Russian Federation ...

Source: AgroNegocios