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EU agri-food exports keep growing steadily in the first quarter


These are the main findings of the latest monthly agri-food trade report published today by the European Commission.

Exports

EU agri-food exports reached €20.1 billion in March 2024, marking a 4% month-on-month increase. The United Kingdom remained the top destination of EU agri-food exports, accounting for 22% of EU export value. Cumulative exports to the UK increased by EUR 214 million (+2%) compared to 2023, in part due to increases in pig meat. In the first quarter of 2024, the United States (US) saw the largest increase in EU exports with a 6% rise (€372 million). China remained the third destination of EU exports (6% of EU exports), despite being the destination with the largest reduction in value in the first quarter (-EUR 477 million, -12%). This is mainly explained by reduced export volumes and prices for the two first EU exports to China: cereal preparations (-EUR 402 million, -40%) and pigmeat (-EUR 278 million, -36%). Among other significant evolutions, EU exports increased to Iraq and Lebanon, while Russia and Egypt experienced decreases.

In terms of exported products, EU exports of olives and olive oil saw the highest increase compared to 2023 (+€615 million, +51%) due to higher prices, despite a slight decline in volumes. Cereal exports grew in volume, but fell in value due to lower prices. Finally, vegetable oils saw declines due to reduced prices and volumes.

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25.06.2024
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