EU exports less wheat, imports more palm oil
For the 12-months period August 2016 to July 2017, EU agri-food exports reached a value of €135.3 billion. This is a 5% increase in value terms compared to the same period one year ago.
This is stated in the latest monthly agri-food trade report. Major gains in annual values have been achieved in agri-food exports to the USA (+8%), Japan (+14%) Korea (+33%), Russia (+12%) and China (+5%).
Increases of more than €200 million also took place in exports to Vietnam, Switzerland and Hong Kong in the last 12-month period. Annual export values (EUR million), have fallen this year to North African and Middle East destinations, such as Saudi Arabia (-11%), Algeria (-8%) and Morocco (-12%).
Export of wheat and other cereals exports experienced the biggest drop in value terms (million Euro) on an annual basis (respectively, -1,623; -24% and 828; -34%). Only 2 other categories recorded notable reductions: eggs and honey (-97, -13%) and malt (-94, -9%).
Import values for wheat also decreased (-363; -24%). However, compared to the same period last year, the EU imported more palm oil (+1,087; +21%), oilseeds other than soybean (+796; +24%), and fatty acids (+623; +42%).
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