Agriculture : Latest short-term outlook report: EU agricultural markets remain stable despite the Russian invasion of Ukraine
Today, the Commission has published the latest short-term outlook report for EU agricultural markets. This regular publication presents a general and sector-by-sector overview of the latest tendencies and further prospects for agri-food markets. The report shows that EU agricultural production continues to be impacted by the consequences of the unjustified Russian war in Ukraine, on surging energy prices, increasing input costs and food inflation throughout the EU. In addition to geopolitical instability, the EU recorded one of the hottest summers in history, which significantly affected summer crops, such as maize, soybeans and sunflower. Meteorological conditions have also been difficult for livestock producers and animals who suffered from heat stress and less feed. Despite obvious challenging conditions, the EU’s agricultural sector remains stable. Food availability is not at risk in the EU. The total EU cereal production is now forecast to reach 270.9 million tons, which represents 7.8% less than last year. The sharpest decrease concerns maize at 55.5 million tons, a 23.7% decrease year-on-year. This is mainly due to summer drought. Soft wheat production will only experience a 2.4% decrease with a forecast production of 127 million tons. EU exports of cereals are expected to reach 51 million tonnes, which is 6.5% above last season and 20.9% above the five-year average. Trade of cereals keeps increasing with EU soft wheat exports expected to reach 36 million tons, an increase of 23% year-on-year. The EU will continue to play its part to contribute to global food security. More detailed information about production, consumption, and prices in these sectors and others can be found in the full summer 2022 short-term outlook report and here.
