Brussels: Europe and the Arabs
The latest report on agri-food trade published today by the European Commission showed that EU agri-food trade in October 2024 reached record levels, with total exports of €21.7 billion and imports of €16.2 billion. Exports increased by 10% and imports by 19% on a monthly basis. Cumulative data from January to October show a 6% increase in imports and a 3% increase in exports.
For EU agri-food exports, the United Kingdom and the United States remained the main destinations between January and October 2024, with a value of €44.9 billion and €25.1 billion respectively. Exports to China decreased by €937 million (-8%) due to lower shipments of cereals, pork and dairy products. In terms of exported products, coffee, tea, cocoa and spices saw the largest growth between January and October, followed by exports of olives and mixed food preparations. EU imports of agri-food products from Brazil remained the largest at €14.4 billion, although they fell by 3% due to lower oilseed prices and grain volumes. Imports from Côte d’Ivoire saw the largest increase (+€2 billion, +60%), driven mainly by higher cocoa prices, while Australia and Russia saw the largest declines. Cereal imports fell in both value and volume while oilseed and protein crops imported increased in volumes.