EU agri-food trade remains stable

The latest monthly agri-food trade report published today shows that the EU agri-food trade reached a total value of €34 billion in June 2022, a decrease of 2.6% month-to-month and an increase of 24% compared to June of last year. Exports grew marginally to €19.5 billion (+1% month-to-month), while imports were valued at €14.5 billion, 7% lower than May. Compared to June 2021, these figures reflect an increase of 19.5% in the value of exports and 31% of imports. The agri-food trade surplus grew substantially and stood at €5.1 billion, a 33% increase compared to the previous month. While commodity prices remained extremely high in June, they declined slightly compared to May. This was particularly the case for cereals, dairy products and oilseeds, for which export quantities grew but prices went down. Exports to sub-Saharan Africa grew significantly month-to-month (+121%), a development not only driven by export prices but also by volumes, particularly of wheat. Exports to Ukraine increased by 25% compared to June of 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. Following the implementation of solidarity lanes and the temporary trade liberalisation, imports from Ukraine increased in June. Notable increases were seen in imports of oilseeds (+€92 million) and oils (+€90 million). Imports of poultry and cereals also grew, by €17 million and €11 million respectively. Regarding specific product categories, June 2022 saw growth in export volumes of EU agri-food products. Cereals grew by 16% month-to-month and 74% year-on-year; wheat by 7% and 137%; and oilseeds and protein crops by 13% and 49%. Further information and details are available in the report and here.