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EU agri-food trade slowed down in August 2024
01.12.2024 03:30 "Agro Perspectiva" (Kyiv) —
EU agri-food trade surplus decreased by 15% in August 2024 compared to the previous month, with a value of EUR 5.2 billion. This is a reduction of 10% compared to August 2023. EU surplus reached EUR 44.8 billion between January and August 2024 and remained EUR 431 million higher than on the same period in 2023. EU exports reached EUR 18.6 billion in August 2024, a reduction of 10% on the previous month, but still 1% higher than in August 2023. Since January, cumulative EU exports reached EUR 155.8 billion, 2% higher than on the same period in 2023. EU export value increased significantly for olives and olive oil and cocoa products due to increased prices. On the other hand, exports decreased for vegetable oils and cereals. EU exports to the US and the UK increased the most, while exports in direction of China and Russia decreased. EU imports decreased by 8% month-on-month in August and reached EUR 13.4 billion. However, they remain 7% higher compared to August 2023. Cumulative imports between January and August reached EUR 111 billion, 3% higher compared to 2023. Import values for cocoa products increased compared to 2023 due to higher prices, while those of oilseeds and cereals decreased. Imports from Côte d’Ivoire had the largest increase in value, while those from Australia had the largest reduction.
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