In April 2024, the EU agri-food trade surplus reached €5 billion, still 4% higher than in April 2023, despite a 25% reduction compared to the previous month. Exports reached 19.8 billion euros, primarily due to the increase in prices of olives and olive oil. Imports were worth 14.8 billion euros. Almost 45% of EU imports are made up of a few product categories: coffee, tea, cocoa, spices; fruit and nuts; oilseeds and protein crops. This is what emerges from the latest monthly report on agri-food trade published today by the European Commission.

EU agri-food exports reached 19.8 billion euros in April 2024, a figure very close to the previous month's value but 10% more than in April 2023. Cumulative exports since January reached 77.8 billion euros.

With an increase of 829 million euros, exports to the United States increased the most, a result largely explained by the high price of olives and olive oil. These products are driving total EU agri-food exports with a 62% increase in value compared to 2023.

Cereal preparations and milling products, dairy products and wine and wine-based products represent 25% of the total value of EU agri-food exports. In terms of volumes, sugar and isoglucose exports doubled compared to the same period last year, while cereal exports increased by 2.6 million tonnes.

EU agri-food imports reached 14.8 billion euros in April, an increase of 10% compared to the previous month, mainly justified by high cocoa prices. Cumulative imports from January to April 2024 are worth 54.9 billion euros, remaining stable compared to the same period in 2023.

Cereal imports experienced the greatest reduction, with a drop of 1.5 billion euros (-33%), due to the reduction in imported volumes and world prices. A similar decrease of €1.3 billion in value was observed for oilseeds and protein crops due to lower prices.

Ivory Coast and Nigeria are the countries that have benefited the most from the higher cocoa import values from the EU. Compared to 2023, the EU has reduced its imports from Indonesia (starting from palm oil) and Australia (starting from rapeseed).

Attached to this EFA News is the full text of the monthly report on EU agri-food trade.