EU agrifood trade: Pig meat export value up in first trimester of 2020
The positive trade balance of EU27 agrifood was boosted by continued strong exports of pig meat, wheat, and coarse grains in the first four months of 2020.
27 July 2020
During the first four months of 2020, EU27 agri-food trade (exports plus imports) reached a value of EUR 104.3 billion; up 3.8% from the same period in 2019. The current growth remained to be driven by a boost in agri-food exports which increased by 4.8% compared to the corresponding period in 2019, reaching EUR 61.9 billion. EU27 imports attained EUR 42.4 billion, 2.3% higher than the same period in 2019. However, the monthly values of EU27 exports and imports decreased in April 2020 by 9% and 5%, respectively, below the level of previous month, mainly triggered by the COVID-19 pandemic.
Pig meat rises in export value
The highest increases in export values (year on year for January-April) continued to be recorded in trade with China (+42%). This upward trend is largely driven by consequences of African Swine Fever in China as well as by the impact of COVID-19 pandemic. As a result, the increase in EU27 export value of pig meat to China showed exceptional growth (+280% in relation to the same period last year) and is reflected in the EU27 overall rise in exports of pig meat. Offal meat also grew 54% in export values to China.
Looking at product categories, the increase in export values (January-April 2020 compared to January-April 2019, EUR million) was driven in particular by continued strong export growth of wheat (+1249, +63%), pig meat (+1225, +57%), and coarse grains (+439, +55%).
Import value increased most from Canada
Agri-food import values year over year for the period (in million EUR) increased most from Canada (+426, +92%). This growth continued to be driven by very high imports of rapeseeds (+1 132%) and soya beans (+455%).
As a result, the agri-food export surplus during the period January-April 2020 stood at EUR 19.5 billion, an increase by 10% compared to the corresponding period in 2019, despite the Covid-19 crisis. This net trade balance remained boosted by continued strong exports of pig meat, wheat and coarse grains.
July 23, 2020/ European Commission/ European Union.
https://ec.europa.eu/
Source:https://pig333.com/latest_swine_news/eu-agrifood-trade-pig-meat-export-value-up-in-first-trimester-of-2020_16457/
