EU agri-food exports up 2 pct year-on-year for January-May period: report

BRUSSELS, Sept. 3 (Xinhua) — Agri-food exports of the Europe Union (EU) in the first five months of this year increased by 2 percent year-on-year to reach 97.4 billion euros (107.5 billion U.S. dollars), showed an agri-food trade report published the European Commission on Tuesday.
According to the data, EU agri-food exports reached 19.7 billion euros in May 2024 and the overall agri-food trade surplus remained stable at 5 billion euros for the month.
The United Kingdom was EU’s top agri-food exports destination, followed by the United States, which saw a 9 percent increase due to higher olive oil prices.
Exports to China, however, decreased by 10 percent, mainly in pork, grain preparations and dairy products. Exports to Brazil increased by 21 percent, or 208 million euros, also due to higher olive and olive oil prices. Exports to Russia dropped by 15 percent, amounting to a decrease of 463 million euros, primarily in spirits.
EU agri-food imports reached 14.7 billion eruos in May 2024, marking a 3 percent increase compared to May 2023. From January to May, total agri-food imports amounted to 69.6 billion euros, remaining stable compared to the same period in 2023.
Brazil continued to be the EU’s top source of agri-food imports despite a 4 percent decline, followed by the United Kingdom and Ukraine.
Imports from Côte d’Ivoire, Nigeria and Tunisia saw significant increases, driven by rising prices for cocoa and olive oil. In contrast, imports from Australia, Indonesia and Canada fell sharply. (1 euro = 1.10 U.S. dollars) ■