The total value of EU agri-food trade has increased by 24% within one year, reaching €34 billion in June 2022, according to the latest edition of the monthly EU agri-food trade report.
Exports reached €19.5 billion, while imports were valued at €14.5 billion, which reflects a 19.5% and a 31% increase respectively. Trade surplus stood at €5.1 billion, up 33% from May.
In a month-on-month comparison, the total value of EU agri-food trade in June this year was 2.6% lower than in the previous month. Exports were 1% higher, while imports were 7% lower than in May this year.
“Extremely high” commodity prices, particularly for cereals, dairy products and oilseeds, declined slightly in June compared to the previous month, according to the EU agri-food trade report.
June 2022
Exports to sub-Saharan Africa rose by 121% within one month in June, particularly due to export volumes of wheat. Imports from Brazil, the US and Indonesia fell month-on-month.
Lower volumes led to a 21% decrease in imports from Brazil, including a drop in imports of cereals (-60%) and oilseeds (-31%), reflecting a drop of €58 million and €390 million respectively.
Imports from Ukraine rose in June, with notable increases in imports of oilseeds (+92 million) and oils (+€90 million). Imports of poultry and cereals also grew by €17 million and €11 million respectively.
Exports to Ukraine increased by 25% compared to June last year, reaching €275 million. This was largely due to exports of vegetables and pigmeat, for which export volumes grew by 557% and 112% year-on-year.
EU agri-food trade
Exports to Morocco increased by 57% (+€728 million), while exports to the entire Middle East and North Africa region also increased, largely driven by higher exports of cereals, sunflower seeds, fruit and nuts, and vegetables during the first half of 2022.
A 23% increase in the volume of cereal preparations (+€478 million) has led to a 19% rise in overall exports to the UK during the January-June period. Exports to China fell by 27% compared to the same period last year.
Overall EU imports increased by 32% reaching €82 billion during the first half of this year compared to 2021, with Brazil accounting for the most notable growth (+46%). Imports of maize, soya meals and raw sugar from Brazil grew by 605,000t, 390,000t and 101,000t respectively.
There was also significant growth in imports from Southeast Asia, particularly Indonesia, Vietnam and Malaysia. Imports from these three countries increased by 35% or €1.6 billion compared to the same period last year.