Pigmeat and infant formula drive increase in EU agri-food export values

Increases in the export value of pigmeat and infant formula have helped drive August EU agri-food export values up compared to the same period last year.

Analysis of the EU’s export performance over the last 12 months per product category shows that export values increased 31% on the year previous for pigmeat.

This was equivalent to an increase of €1.2 billion, according to EU trade figures.

Infant formula had the next highest increase in export value with an increase in value of €113m.

Other increases were seen in exports of fresh vegetables (+€439m; +16%), live animals (+€382m; +17%) and meat offal, other meat and fat (+€370m; +16%), and olive oil (+€318m; +14%).

In relative terms, high increases in export values were also seen for butter (+28%), Commission figures show.

Wheat (-€837m; -12.5%), milk powders (-€708m; -16%) and other cereals (-€676m; -23%) lost most in export values over the last 12 months.

Overall, the monthly value of EU agri-food exports in August 2016 reached €10.6 billion, exceeding the export values in August of previous years.

Highest increases in monthly export values (August 2016 compared to August 2015) were recorded for the USA (+€221m) and China (+€106m).

Also, figures show that agri-food exports to other Asian countries (Vietnam, Japan, South Korea) increased by €50m or more each.

Meanwhile, agri-food imports from third countries also increased in value over the last 12 months, most particularly for Ivory Coast (+21%), Argentina (+7%), Peru (+14%) and Australia (+12%).