Agri-food exports from the European Union were worth €19.6 billion in September 2024, an increase of 5% on the previous month and 3% higher than in September 2023.
The latest trade monitoring report from the EU Commission shows that since January, cumulative EU agri-food 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, exports of cocoa products also increased driven by higher prices.
By contrast, EU cereals exports had the largest reduction in value, with a drop of €1.7 billion in value (‑15%), due to a reduction of world prices.
The report states that exports of vegetable oils also decreased with reduced prices and volumes.
The US and the UK continue to be the top EU export destinations.
EU exports to the US had the largest increase compared to 2023, growing by 11% or €2.2 billion, driven by higher prices for olives and olive oil exports.
The UK was the destination with the second largest increase of EU export value, with a rise of €1.1 billion (+3%) compared to the same period in 2023, due to increases across a variety of products.
Exports to China saw the largest reduction, with a decrease of €878 million (‑8%) compared to 2023. This is due to reductions in exports of pigmeat, cereals, and dairy products.
Agri-food
The commission said that EU agri-food imports remained stable month-on-month in September and reached €13.6 billion. However, they remain 11% higher compared to September 2023.
Cumulative imports between January and September were valued at €124.9 billion, 4% higher compared to 2023.
The import values for cocoa products increased the most compared to 2023, as prices kept increasing, while those of oilseeds and cereals decreased.
Imports from Côte d’Ivoire had the largest increase in value, because of the increase of cocoa prices, while those from Australia had the largest reduction.
Imports from Ukraine had the second largest increase in value, with a growth of €834 million compared to 2023 (+10%).
The commission said that this is mainly explained by higher import volumes of vegetable oils and oilseeds, particularly rapeseed.
The report outlines that the EU agri-food trade surplus increased by 15% in September 2024 compared to the previous month, with a value of €6 billion.
This remains 10% lower than in September 2023. EU surplus reached €50.6 billion between January and September 2024 and remained stable compared to the same period in 2023.