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The latest agri-food trade report published by the European Commission showed that the EU agri-food trade surplus increased by 15% in September 2024, reaching €6 billion. This marks a significant increase from the previous month. The EU surplus reached €50.6 billion between January and September 2024, remaining stable compared to the same period in 2023.
Exports
EU exports reached €19.6 billion in September 2024, an increase of 5% on the previous month and 3% higher than in September 2023. Since January, cumulative EU exports reached €175.5 billion, 2% higher than on the same period in 2023. The value of EU exports of olives and olive oil increased significantly, by €2 billion (54%), due to increased prices. Similarly, EU exports of cocoa products also increased driven by higher prices. By contrast, EU cereals exports had the largest reduction in value, with a decrease of €1.7 billion in value (‑15%), explained by a reduction of world prices. Exported volumes remain high with 1.6 million tonnes of additional wheat exported compared with September last year.
Exports to China had the largest reduction, with a decrease of EUR 878 million (‑8%) compared to 2023. This is explained in particular by reductions in exports of pigmeat, cereals, and dairy products.
Imports
EU imports remained stable month-on-month in September and reached €13.6 billion. Cumulative imports between January and September reached €124.9 billion, 4% higher compared to 2023. The value of cocoa imports increased significantly compared to 2023, as world prices kept increasing. Imports of fruit and nuts also grew by €1.4 billion (+8%), mainly due to increased prices. Conversely, imports of oilseeds and cereals decreased, mainly due to reduced prices. Imports from Côte d'Ivoire had the largest increase between January and September compared to 2023 (+EUR 1.7 billion, +57%), driven by the increase of cocoa prices. Imports from Nigeria also increased significantly, by 150% (+€761 million) for the same reason.
December 19, 2024/ EC/ European Union.
https://agriculture.ec.europa.eu
