Agriculture: Short-term outlook report favourable for EU agricultural sectors
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 first 2021 edition concludes that the EU agricultural sector has shown resilience throughout the COVID-19 crisis. The sector performed relatively well thanks to increased retail sales and home consumption. In addition, prospects are favourable with a dynamic global demand and the reopening of food services (restaurants, bars, cafés) expected once the vaccination campaign is sufficiently advanced. Recent trade developments will reduce uncertainties around the EU’s trade relations, benefitting agricultural sectors. Among those developments, the U.S. and the EU have agreed to temporarily suspend tariffs related to the civil aircraft disputes early March 2021. In addition, the EU-UK Trade and Cooperation Agreement was concluded late 2020. Still, both sides will need time to adapt and provide necessary conditions for optimal trade exchanges. For full details concerning specific markets, see the news item and the report available online.