In April 2024, the EU's agri-food trade surplus reached €5 billion, marking a 4% increase compared to April 2023, despite a 25% reduction from the previous month. Exports totaled €19.8 billion, primarily driven by rising prices of olives and olive oil, while imports were valued at €14.8 billion. Key import categories included coffee, tea, cocoa, spices, fruit and nuts, and oilseeds and protein crops. These insights are drawn from the latest monthly report on agri-food trade published by the European Commission.
EU agri-food exports in April 2024 stood at €19.8 billion, nearly matching the previous month’s figures and showing a 10% increase from April 2023. Since January, cumulative exports have reached €77.8 billion. Exports to the United States saw the highest growth, increasing by €829 million, largely due to the high prices of olives and olive oil. These products have significantly boosted the value of total EU agri-food exports, with a 62% increase compared to 2023. Cereal preparations, dairy products, and wine collectively accounted for 25% of the total export value. Notably, sugar and isoglucose exports doubled in volume compared to the same period last year, and cereal exports rose by 2.6 million tonnes.
On the import side, the EU brought in €14.8 billion worth of agri-food products in April, a 10% increase from the previous month, mainly due to high cocoa prices. Cumulative imports from January to April 2024 amounted to €54.9 billion, maintaining stability compared to the same period in 2023.
Cereal imports saw the most significant reduction, dropping by €1.5 billion (-33%) due to decreased volumes and global prices. Similarly, oilseeds and protein crops experienced a €1.3 billion decline in value due to lower prices. The Ivory Coast and Nigeria benefited the most from the higher cocoa import values, while the EU reduced its imports from Indonesia (notably palm oil) and Australia (notably rapeseed).
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