June 21, 2011

 

Estonia's 2010 grain trade surplus expands in volume

 

 

Estonia posted a surplus for 2010 grain trade in terms of volume, as compared with 2009, whereas in money terms foreign trade in grain remained in deficit.

 

The amount of grain exported grew 13% last year to 275,000 tonnes in grain equivalent and the volume of import was up 18% at 162,000 tonnes. The surplus of trade in volume terms thus expanded by 7% to 113,000 tonnes, it appears from a grain market survey by the Estonian Institute of Economic Research.

 

The amount of grain exported last year was among the largest for the past decade, second only to the record dating from 2008.

 

In money terms export of grain and grain products came to EUR67.9 million (US$97.4 million) in 2010, marking an increase of 13% over 2009. The export turnover made up nearly 8% of Estonia's total farm exports.

 

Imports of grain and grain products, at EUR82.2 million (US$117.91 million), also made up 8% of total imports of agricultural products. Year on year the import turnover increased 5%.

 

The negative foreign trade balance of grain and grain products contracted from EUR18.2 million (US$26.11 million) in 2009 to EUR14.3 million (US$20.51 million) last year.

 

The money indicators of foreign trade in grain and grain products include data about rice and rice products.

 

The difference between volume based and money based statistics arises from the different structure of grain exports and grain imports. Of imports, grain made up 18% and more expensive products, such as flour, groats, dough and pastry products, 62%. In exports the latter accounted for 48% and grain for 52%.

 

The export of oil cultures and plant oil products grew 35% year on year to EUR69.4 million (US$99.55 million) in 2010, mainly as a result of a 65% increase in the export of rapeseed oil. Import of oil cultures and plant oil products totalled EUR31.5 million (US$45.19 million), a drop of 34% from 2009.

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