October 4, 2018
EU achieves agri-food trade surplus in July; wheat exports rise, milk powder down
The value of EU agri-food exports in July held firm at €11.5 billion, with wheat and other cereals steadily rising by €49 million and €47 million respectively, compared with the same month last year. Milk powder exports, however, significantly decreased by €43 million, according to the latest monthly trade report published by the European Commission.
With regards to imports, significant increases were recorded by soya beans (up €57 million), while imports of palm oil decreased.
As the monthly value of agri-food imports was lower than the export value, at €9.3 billion, the EU agri-food trade surplus increased 15% to €2.2 billion from last year.
On yearly basis, wheat exports significantly dropped in value terms (-€445 million; -10.5%) over the 12-month period May 2017 to April 2018. Pork meat also registered notable losses in export values over the last 12 months (-€386; -7%), even as EU agri-food exports during the period increased 0.9% to €136.8 billion, compared with the same period one year ago.
Agri-food imports from third countries in the 12-month period decreased 2.5% to €114.5 billion, compared with the same period a year earlier, resulting in a yearly trade surplus of €22.3 billion (+€4.1 billion; +23%).
The highest increases in import values over the last 12 months were recorded for cereals, excluding wheat and rice (+€447; +16%).